Summit Financial LLC Makes New $497,000 Investment in Stifel Financial Corporation $SF

Summit Financial LLC bought a new position in shares of Stifel Financial Corporation (NYSE:SF) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,268 shares of the financial services provider’s stock, valued at approximately $497,000.

Other large investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. bought a new position in Stifel Financial during the 1st quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in Stifel Financial during the 1st quarter worth about $27,000. Allworth Financial LP increased its holdings in Stifel Financial by 67.7% during the 1st quarter. Allworth Financial LP now owns 337 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 136 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Stifel Financial by 123.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 183 shares in the last quarter. Finally, Bessemer Group Inc. increased its holdings in Stifel Financial by 53.0% during the 1st quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 82.01% of the company’s stock.

Stifel Financial Trading Up 3.2%

Stifel Financial stock opened at $114.2180 on Monday. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.82. The stock has a market capitalization of $11.67 billion, a P/E ratio of 22.14 and a beta of 1.11. The stock has a 50-day simple moving average of $108.47 and a 200 day simple moving average of $99.62.

Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.06. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the business posted $1.60 earnings per share. Analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $1.84 annualized dividend and a yield of 1.6%. Stifel Financial’s dividend payout ratio (DPR) is 35.66%.

Analyst Upgrades and Downgrades

SF has been the subject of a number of research reports. Stifel Nicolaus set a $135.00 target price on Stifel Financial in a report on Thursday, July 31st. Citigroup upgraded Stifel Financial from a “neutral” rating to a “buy” rating and raised their price objective for the company from $115.00 to $135.00 in a report on Thursday, July 31st. Wells Fargo & Company raised their price objective on Stifel Financial from $102.00 to $125.00 and gave the company an “overweight” rating in a report on Friday, July 11th. JMP Securities raised their price objective on Stifel Financial from $120.00 to $130.00 and gave the company a “market outperform” rating in a report on Monday, July 14th. Finally, Wall Street Zen upgraded Stifel Financial from a “sell” rating to a “hold” rating in a report on Sunday, August 3rd. Four analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Stifel Financial has an average rating of “Moderate Buy” and an average price target of $115.78.

Insider Transactions at Stifel Financial

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction of $966,900.00. Following the completion of the sale, the director directly owned 45,833 shares in the company, valued at $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have purchased 7 shares of company stock worth $781 in the last three months. Company insiders own 4.57% of the company’s stock.

Stifel Financial Profile

Stifel Financial Corp., a financial services and bank holding company, provides retail and institutional wealth management, and investment banking services to individual investors, corporations, municipalities, and institutions in the United States and internationally. It operates in three segments: Global Wealth Management, Institutional Group, and Other.