Bank of New York Mellon Corp Decreases Stake in Stifel Financial Corporation (NYSE:SF)

Bank of New York Mellon Corp trimmed its stake in Stifel Financial Corporation (NYSE:SF - Free Report) by 2.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 985,773 shares of the financial services provider's stock after selling 20,005 shares during the period. Bank of New York Mellon Corp owned about 0.95% of Stifel Financial worth $92,919,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Proficio Capital Partners LLC bought a new stake in Stifel Financial during the fourth quarter valued at $162,000. M&T Bank Corp boosted its position in Stifel Financial by 10.8% during the fourth quarter. M&T Bank Corp now owns 2,931 shares of the financial services provider's stock valued at $311,000 after acquiring an additional 286 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Stifel Financial during the fourth quarter valued at $11,936,000. AlphaQuest LLC boosted its position in Stifel Financial by 64,142.9% during the fourth quarter. AlphaQuest LLC now owns 4,497 shares of the financial services provider's stock valued at $477,000 after acquiring an additional 4,490 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Stifel Financial by 7.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,115 shares of the financial services provider's stock valued at $1,922,000 after acquiring an additional 1,274 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Michael J. Zimmerman sold 10,000 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $96.69, for a total value of $966,900.00. Following the transaction, the director owned 45,833 shares of the company's stock, valued at approximately $4,431,592.77. This trade represents a 17.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wolfe Research raised shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price target on the stock in a research report on Thursday, April 24th. JMP Securities cut their price target on shares of Stifel Financial from $135.00 to $120.00 and set a "market outperform" rating on the stock in a research report on Tuesday, April 8th. Citigroup upped their price target on shares of Stifel Financial from $94.00 to $115.00 and gave the company a "neutral" rating in a research report on Monday. The Goldman Sachs Group cut their price objective on shares of Stifel Financial from $121.00 to $105.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Finally, TD Cowen cut their price objective on shares of Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $109.63.

Stifel Financial Stock Down 1.2%

Shares of SF stock traded down $1.29 on Friday, reaching $108.31. 242,512 shares of the company were exchanged, compared to its average volume of 805,184. The company has a market cap of $11.13 billion, a price-to-earnings ratio of 20.72 and a beta of 1.09. The company has a 50-day moving average of $98.00 and a 200-day moving average of $99.58. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.81 and a quick ratio of 0.77. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share for the quarter, missing the consensus estimate of $1.64 by ($1.15). Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business posted $1.49 EPS. Stifel Financial's revenue was up 7.9% compared to the same quarter last year. Analysts anticipate that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.46 dividend. The ex-dividend date was Monday, June 2nd. This represents a $1.84 annualized dividend and a yield of 1.70%. Stifel Financial's payout ratio is 35.18%.

Stifel Financial Company 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.