Stifel Financial (NYSE:SF) Hits New 1-Year Low – Here’s What Happened

Stifel Financial Corporation (NYSE:SF)’s share price hit a new 52-week low on Tuesday. The company traded as low as $65.98 and last traded at $66.08, with a volume of 1,306,421 shares changing hands. The stock had previously closed at $67.56.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SF. JPMorgan Chase & Co. lowered their price target on Stifel Financial from $86.00 to $82.00 and set a “neutral” rating for the company in a research report on Tuesday, October 6th. BMO Capital Markets cut their price objective on Stifel Financial from $85.00 to $75.00 and set a “market perform” rating on the stock in a report on Tuesday, October 6th. Weiss Ratings restated a “buy (b-)” rating on shares of Stifel Financial in a report on Wednesday, August 26th. UBS Group reaffirmed a “buy” rating and issued a $84.00 price objective (down from $90.00) on shares of Stifel Financial in a research note on Wednesday, October 7th. Finally, Wall Street Zen cut Stifel Financial from a “buy” rating to a “hold” rating in a report on Sunday, August 9th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.08.

Stifel Financial Trading Down 2.2%

The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The firm’s 50 day simple moving average is $76.31 and its 200-day simple moving average is $76.03. The company has a market capitalization of $9.98 billion, a PE ratio of 11.41 and a beta of 1.01.

Stifel Financial (NYSE:SF) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter in the prior year, the business earned $1.71 earnings per share. The business’s quarterly revenue was up 13.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Stifel Financial Corporation will post 6.17 EPS for the current year.

Stifel Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 15th. Investors of record on Tuesday, September 1st were given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Tuesday, September 1st. Stifel Financial’s dividend payout ratio is 24.33%.

Insiders Place Their Bets

In related news, Director Maryam Brown sold 4,700 shares of the 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 approximately $453,736.80. This represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.36% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its position in shares of Stifel Financial by 17.0% in the third quarter. Assenagon Asset Management S.A. now owns 574,229 shares of the financial services provider’s stock worth $40,219,000 after buying an additional 83,467 shares during the period. Tempus Wealth Planning LLC acquired a new stake in shares of Stifel Financial in the third quarter valued at about $206,000. First Citizens Bank & Trust Co. acquired a new stake in shares of Stifel Financial in the third quarter valued at about $800,000. Krilogy Financial LLC grew its stake in shares of Stifel Financial by 13.1% in the third quarter. Krilogy Financial LLC now owns 4,650 shares of the financial services provider’s stock valued at $326,000 after buying an additional 540 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC grew its stake in shares of Stifel Financial by 52.1% in the third quarter. NorthCrest Asset Manangement LLC now owns 5,019 shares of the financial services provider’s stock valued at $352,000 after buying an additional 1,720 shares in the last quarter. 82.01% of the stock is owned by hedge funds and other institutional investors.

About Stifel Financial

Stifel Financial Corp. is a financial services holding company headquartered in St. Louis, Missouri. Through its principal operating subsidiaries, including Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, securities brokerage and related financial services to individual investors, corporations, municipalities and institutional clients.

Its wealth management business offers investment advice, brokerage services, financial planning, banking and lending solutions, and access to a range of investment products.