Royal Bank of Canada Raises Stake in Stifel Financial Corporation $SF

Royal Bank of Canada grew its position in Stifel Financial Corporation (NYSE:SF) by 43.0% in the first quarter, HoldingsChannel.com reports. The firm owned 143,081 shares of the financial services provider’s stock after acquiring an additional 43,036 shares during the period. Royal Bank of Canada’s holdings in Stifel Financial were worth $10,578,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Activest Wealth Management raised its position in shares of Stifel Financial by 12,000.0% during the 4th quarter. Activest Wealth Management now owns 242 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 240 shares during the period. Advisory Services Network LLC bought a new position in Stifel Financial in the 3rd quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in Stifel Financial in the 4th quarter worth $34,000. Cullen Frost Bankers Inc. purchased a new stake in Stifel Financial in the 4th quarter worth $50,000. Finally, BOKF NA increased its stake in Stifel Financial by 1,626.9% in the 3rd quarter. BOKF NA now owns 449 shares of the financial services provider’s stock worth $51,000 after buying an additional 423 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stifel Financial

In related news, Director Maryam S. Brown sold 4,700 shares of the firm’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total value of $372,240.00. Following the completion of the sale, the director directly owned 5,729 shares in the company, valued at $453,736.80. This trade represents a 45.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.36% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SF has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Wall Street Zen downgraded Stifel Financial from a “buy” rating to a “hold” rating in a research note on Sunday. JPMorgan Chase & Co. boosted their price target on Stifel Financial from $80.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, July 23rd. Zacks Research upgraded Stifel Financial from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, UBS Group set a $90.00 price objective on shares of Stifel Financial in a report on Thursday, July 23rd. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.90.

Stifel Financial Trading Down 0.3%

SF opened at $83.11 on Friday. The stock has a 50-day moving average of $75.61 and a 200 day moving average of $76.57. The company has a current ratio of 0.88, a quick ratio of 0.80 and a debt-to-equity ratio of 0.33. Stifel Financial Corporation has a 12 month low of $67.81 and a 12 month high of $89.83. The firm has a market cap of $12.55 billion, a P/E ratio of 14.88 and a beta of 0.99.

Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.09. The business had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.42 billion. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%.The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.71 earnings per share. As a group, research analysts forecast that Stifel Financial Corporation will post 6.36 EPS for the current year.

Stifel Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.6%. The ex-dividend date is Tuesday, September 1st. Stifel Financial’s dividend payout ratio is presently 24.33%.

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.