First National Advisers LLC Acquires New Shares in Stifel Financial Corporation (NYSE:SF)

Key Points

• First National Advisers LLC acquired 7,830 shares of Stifel Financial Corporation, valued at approximately $738,000, during the first quarter of the year.
• Insider activity included Director Michael J. Zimmerman selling 10,000 shares for $966,900, reducing his ownership by 17.91% to 45,833 shares.
• Several analysts have adjusted their ratings and price targets for Stifel, with TD Cowen lowering it to $84.00 while JMP Securities raised the target to $130.00.

First National Advisers LLC purchased a new position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,830 shares of the financial services provider's stock, valued at approximately $738,000.

Other institutional investors also recently modified their holdings of the company. NBC Securities Inc. acquired a new stake in Stifel Financial in the first quarter valued at $26,000. Alpine Bank Wealth Management bought a new stake in Stifel Financial during the first quarter valued at $27,000. Bessemer Group Inc. boosted its position in Stifel Financial by 52.1% during the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock valued at $34,000 after acquiring an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Stifel Financial by 123.6% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 183 shares during the last quarter. Finally, Allworth Financial LP boosted its position in Stifel Financial by 67.7% during the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 136 shares during the last quarter. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Stifel Financial Stock Up 0.1%

NYSE SF traded up $0.11 during trading hours on Thursday, hitting $114.19. The company's stock had a trading volume of 370,917 shares, compared to its average volume of 800,628. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The company has a market capitalization of $11.73 billion, a PE ratio of 21.83 and a beta of 1.09. The company has a current ratio of 0.81, a quick ratio of 0.77 and a debt-to-equity ratio of 0.28. The company's 50-day simple moving average is $102.01 and its two-hundred day simple moving average is $99.78.

Stifel Financial (NYSE:SF - Get Free Report) last posted its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 EPS for the quarter, topping the consensus estimate of $1.65 by $0.06. Stifel Financial had a net margin of 12.26% and a return on equity of 13.88%. The firm had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. During the same quarter last year, the firm earned $1.60 EPS. The company's quarterly revenue was up 5.4% compared to the same quarter last year. Research analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 1.61%. Stifel Financial's dividend payout ratio is currently 35.18%.

Insider Activity at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction of $966,900.00. Following the completion of the sale, the director owned 45,833 shares in the company, valued at $4,431,592.77. This trade represents a 17.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of Stifel Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. 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. 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. JPMorgan Chase & Co. cut their price objective on shares of Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Finally, Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $115.00 to $135.00 in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Stifel Financial has a consensus rating of "Hold" and an average price target of $115.78.

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.