Bank of America Corp DE Boosts Stock Holdings in Stifel Financial Corporation $SF

Key Points

• Bank of America increased its Stifel Financial stake by 58.7% in the first quarter, acquiring 693,437 additional shares for a total holding of 1.88 million shares valued at approximately $138.6 million. Institutional investors and hedge funds collectively own 82.01% of Stifel’s stock.
• Stifel reported quarterly revenue of $1.45 billion and earnings of $1.42 per share, beating analyst expectations, while revenue rose 13% year over year. Shares opened at $83.50, with analysts assigning a “Moderate Buy” consensus rating and an average price target of $91.90.
• The company declared a quarterly dividend of $0.34 per share, equivalent to $1.36 annually and a 1.6% yield. An insider separately sold 4,700 shares, reducing their position by 45.07%.

Bank of America Corp DE increased its stake in Stifel Financial Corporation (NYSE:SF - Free Report) by 58.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,875,501 shares of the financial services provider's stock after acquiring an additional 693,437 shares during the period. Bank of America Corp DE owned approximately 1.22% of Stifel Financial worth $138,637,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brown Brothers Harriman & Co. grew its holdings in Stifel Financial by 15.0% during the 4th quarter. Brown Brothers Harriman & Co. now owns 811 shares of the financial services provider's stock worth $102,000 after acquiring an additional 106 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Stifel Financial by 0.5% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 23,449 shares of the financial services provider's stock valued at $2,936,000 after purchasing an additional 114 shares during the last quarter. Principal Securities Inc. raised its holdings in shares of Stifel Financial by 6.9% in the 4th quarter. Principal Securities Inc. now owns 1,926 shares of the financial services provider's stock valued at $241,000 after purchasing an additional 124 shares in the last quarter. Clark Capital Management Group Inc. raised its holdings in shares of Stifel Financial by 3.8% in the 3rd quarter. Clark Capital Management Group Inc. now owns 3,642 shares of the financial services provider's stock valued at $413,000 after purchasing an additional 134 shares in the last quarter. Finally, Crossmark Global Holdings Inc. lifted its position in shares of Stifel Financial by 1.8% during the 4th quarter. Crossmark Global Holdings Inc. now owns 7,811 shares of the financial services provider's stock worth $978,000 after purchasing an additional 140 shares during the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

Stifel Financial Trading Down 1.0%

Shares of Stifel Financial stock opened at $83.50 on Friday. Stifel Financial Corporation has a 1 year low of $67.81 and a 1 year high of $89.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. The company has a market capitalization of $12.81 billion, a P/E ratio of 14.95 and a beta of 0.99. The company's fifty day moving average is $75.35 and its two-hundred day moving average is $76.52.

Stifel Financial (NYSE:SF - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, beating analysts' consensus estimates of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.32%. The business had revenue of $1.45 billion during the quarter, compared to analysts' expectations of $1.42 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The business's revenue was up 13.0% compared to the same quarter last year. Analysts forecast that Stifel Financial Corporation will post 6.36 earnings per share for the current year.

Stifel Financial Announces Dividend

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

Insider Buying and Selling

In other Stifel Financial news, Director Maryam S. Brown sold 4,700 shares of the 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.36% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Zacks Research upgraded shares of Stifel Financial from a "strong sell" rating to a "hold" rating in a research note on Wednesday, May 20th. UBS Group set a $90.00 price target on Stifel Financial in a research note on Thursday, July 23rd. Wall Street Zen raised Stifel Financial from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. JPMorgan Chase & Co. upped their price objective on Stifel Financial from $80.00 to $86.00 and gave the stock a "neutral" rating in a research report on Thursday, July 23rd. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Stifel Financial in a research report on Friday, May 29th. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Stifel Financial currently has an average rating of "Moderate Buy" and a consensus target price of $91.90.

Stifel Financial 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.

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