Algebris UK Ltd. Buys Shares of 1,007,696 Stifel Financial Corporation $SF

Key Points

• Algebris UK Ltd. purchased 1,007,696 shares of Stifel Financial, valued at approximately $70.1 million, making SF its seventh-largest holding and representing about 0.67% of the company.
• Institutional ownership remains high at 82.01%, with several investors—including Fifth Third Bancorp, Royal Bank of Canada, and Heartland Advisors—also increasing their positions.
• Stifel beat quarterly earnings expectations with $1.42 in EPS and $1.45 billion in revenue, while declaring a $0.34 quarterly dividend. Analysts maintain a “Moderate Buy” consensus with an average price target of $91.90.

Algebris UK Ltd. bought a new position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,007,696 shares of the financial services provider's stock, valued at approximately $70,086,000. Stifel Financial comprises 4.6% of Algebris UK Ltd.'s holdings, making the stock its 7th largest holding. Algebris UK Ltd. owned approximately 0.67% of Stifel Financial as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of SF. Fifth Third Bancorp increased its stake in Stifel Financial by 430.4% during the 1st quarter. Fifth Third Bancorp now owns 73,993 shares of the financial services provider's stock worth $5,470,000 after purchasing an additional 60,042 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Stifel Financial by 49.9% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 38,209 shares of the financial services provider's stock worth $2,824,000 after acquiring an additional 12,727 shares in the last quarter. Royal Bank of Canada increased its position in shares of Stifel Financial by 43.0% during the first quarter. Royal Bank of Canada now owns 143,081 shares of the financial services provider's stock worth $10,578,000 after acquiring an additional 43,036 shares in the last quarter. Heartland Advisors Inc. increased its holdings in Stifel Financial by 56.3% during the 1st quarter. Heartland Advisors Inc. now owns 134,153 shares of the financial services provider's stock worth $9,917,000 after purchasing an additional 48,346 shares in the last quarter. Finally, North Reef Capital Management LP bought a new position in Stifel Financial during the 1st quarter worth about $4,230,000. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Stifel Financial Stock Down 1.2%

SF opened at $82.73 on Thursday. The stock's fifty day simple moving average is $77.86 and its 200 day simple moving average is $76.46. Stifel Financial Corporation has a 1-year low of $67.81 and a 1-year high of $89.83. The stock has a market cap of $12.49 billion, a PE ratio of 14.81 and a beta of 0.99. The company has a current ratio of 0.88, a quick ratio of 0.83 and a debt-to-equity ratio of 0.33.

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

Stifel Financial Announces Dividend

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

Insider Activity

In related news, Director Maryam S. Brown sold 4,700 shares of Stifel Financial stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $79.20, for a total transaction of $372,240.00. Following the completion of the sale, the director directly owned 5,729 shares of the company's stock, valued at approximately $453,736.80. This trade represents a 45.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SF. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Stifel Financial in a research report on Friday, May 29th. UBS Group set a $90.00 target price on shares of Stifel Financial in a research report on Thursday, July 23rd. Wall Street Zen cut Stifel Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. Zacks Research upgraded Stifel Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. Finally, 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 research report on Thursday, July 23rd. Five investment 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 stock currently has an average rating of "Moderate Buy" and an average target price of $91.90.

About Stifel Financial

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.

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