Bank of New York Mellon Corp Trims Stock Holdings in Stifel Financial Corporation (NYSE:SF)

Bank of New York Mellon Corp decreased its holdings in Stifel Financial Corporation (NYSE:SF - Free Report) by 2.0% in the first quarter, according to the company in its most recent disclosure 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 0.95% of Stifel Financial worth $92,919,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. NBC Securities Inc. bought a new position in shares of Stifel Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in shares of Stifel Financial in the first quarter worth about $27,000. Bessemer Group Inc. boosted its stake in shares of Stifel Financial by 52.1% in the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after acquiring an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Stifel Financial by 123.6% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock worth $31,000 after acquiring an additional 183 shares during the period. Finally, Quarry LP purchased a new stake in shares of Stifel Financial in the fourth quarter worth about $49,000. Institutional investors own 82.01% of the company's stock.

Stifel Financial Trading Down 1.2%

SF stock traded down $1.27 during midday trading on Friday, reaching $108.33. 747,529 shares of the company traded hands, compared to its average volume of 694,090. 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 0.81. The business has a 50 day moving average of $98.38 and a 200-day moving average of $99.47. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of 20.71 and a beta of 1.09.

Stifel Financial (NYSE:SF - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.64 by ($1.15). Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $1.32 billion. During the same quarter last year, the company earned $1.49 earnings per share. The company's revenue for the quarter was up 7.9% on a year-over-year basis. As a group, sell-side analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.70%. Stifel Financial's dividend payout ratio (DPR) is presently 35.18%.

Insider Transactions at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $96.69, for a total value of $966,900.00. Following the sale, the director directly owned 45,833 shares in the company, valued at approximately $4,431,592.77. This represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.28% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SF has been the topic of a number of research analyst reports. Citigroup boosted their target price on Stifel Financial from $94.00 to $115.00 and gave the stock a "neutral" rating in a research report on Monday, July 7th. Wall Street Zen upgraded Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday. TD Cowen decreased their target price on Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. JMP Securities decreased their target price on 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. Finally, Wolfe Research upgraded Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 target price on the stock in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $109.63.

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.