Stifel Financial Corp. (SF) Downgraded by Macquarie
Separately, Zacks Investment Research upgraded shares of Stifel Financial Corp. from a hold rating to a strong-buy rating and set a $46.00 price target on the stock in a report on Tuesday, October 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $40.00.
Shares of Stifel Financial Corp. (NYSE:SF) opened at 49.85 on Monday. The company’s 50-day moving average is $42.20 and its 200-day moving average is $37.57. Stifel Financial Corp. has a 1-year low of $25.00 and a 1-year high of $50.92. The stock has a market cap of $3.30 billion, a P/E ratio of 60.06 and a beta of 1.56.
Stifel Financial Corp. (NYSE:SF) last issued its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.07. Stifel Financial Corp. had a net margin of 2.64% and a return on equity of 6.71%. The company had revenue of $641.99 million for the quarter, compared to the consensus estimate of $629.13 million. During the same quarter in the prior year, the company earned $0.38 EPS. Stifel Financial Corp.’s quarterly revenue was up 8.5% on a year-over-year basis. Equities analysts expect that Stifel Financial Corp. will post $2.53 EPS for the current fiscal year.
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In other news, General Counsel David M. Minnick sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $50.20, for a total transaction of $502,000.00. Following the sale, the general counsel now owns 4,193 shares of the company’s stock, valued at approximately $210,488.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman Ben A. Plotkin sold 15,000 shares of Stifel Financial Corp. stock in a transaction on Tuesday, November 22nd. The shares were sold at an average price of $50.20, for a total transaction of $753,000.00. Following the completion of the sale, the insider now directly owns 123,309 shares in the company, valued at approximately $6,190,111.80. The disclosure for this sale can be found here. Insiders own 5.14% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Macquarie Group Ltd. boosted its stake in Stifel Financial Corp. by 12.5% in the second quarter. Macquarie Group Ltd. now owns 1,827,121 shares of the financial services provider’s stock worth $57,463,000 after buying an additional 202,778 shares in the last quarter. Trillium Asset Management LLC raised its position in shares of Stifel Financial Corp. by 10.9% in the second quarter. Trillium Asset Management LLC now owns 405,720 shares of the financial services provider’s stock worth $12,760,000 after buying an additional 39,746 shares during the last quarter. Channing Capital Management LLC raised its position in shares of Stifel Financial Corp. by 47.7% in the second quarter. Channing Capital Management LLC now owns 910,231 shares of the financial services provider’s stock worth $28,627,000 after buying an additional 293,838 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Stifel Financial Corp. by 25.6% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 34,704 shares of the financial services provider’s stock worth $1,092,000 after buying an additional 7,078 shares during the last quarter. Finally, Monarch Partners Asset Management LLC purchased a new position in shares of Stifel Financial Corp. during the second quarter worth $2,885,000. 84.21% of the stock is currently owned by hedge funds and other institutional investors.
Stifel Financial Corp. Company Profile
Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. Its principal activities are private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading, research and municipal finance; investment banking services, including mergers and acquisitions, public offerings and private placements, and retail and commercial banking, including personal and commercial lending programs.
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