Hsbc Holdings PLC Sells 13,600 Shares of Stifel Financial Corporation $SF

Key Points

• HSBC Holdings PLC has decreased its stake in Stifel Financial Corporation by 42.1%, selling 13,600 shares and now holding 18,700 shares valued at approximately $1.75 million.
• Multiple hedge funds have recently adjusted their positions in Stifel Financial, with notable increases in holdings from firms like Allworth Financial LP at 67.7% and Journey Strategic Wealth LLC at 4.2%.
• Stifel Financial has reported better-than-expected earnings of $1.71 EPS for the last quarter, alongside a quarterly dividend of $0.46 per share that will be paid on September 16th.

Hsbc Holdings PLC trimmed its position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 42.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,700 shares of the financial services provider's stock after selling 13,600 shares during the period. Hsbc Holdings PLC's holdings in Stifel Financial were worth $1,750,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in SF. NBC Securities Inc. acquired a new position in Stifel Financial during the first quarter worth $26,000. Alpine Bank Wealth Management acquired a new position in Stifel Financial during the first quarter worth $27,000. Allworth Financial LP increased its holdings in Stifel Financial by 67.7% during the first quarter. Allworth Financial LP now owns 337 shares of the financial services provider's stock worth $29,000 after buying an additional 136 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings 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 worth $31,000 after buying an additional 183 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in Stifel Financial by 53.0% during the first quarter. Bessemer Group Inc. now owns 491 shares of the financial services provider's stock worth $46,000 after buying an additional 170 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 company's stock in a transaction dated 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 of the company's stock, valued at $4,431,592.77. This represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders have bought a total of 7 shares of company stock worth $781 over the last three months. Corporate insiders own 4.57% of the company's stock.

Stifel Financial Stock Performance

Shares of Stifel Financial stock traded down $1.03 during trading on Monday, reaching $115.37. The company's stock had a trading volume of 647,137 shares, compared to its average volume of 672,443. The business's 50-day moving average price is $110.36 and its 200-day moving average price is $99.84. The firm has a market cap of $11.79 billion, a PE ratio of 22.36 and a beta of 1.13. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28.

Stifel Financial (NYSE:SF - Get Free Report) last announced its earnings results on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.06. The company had revenue of $1.28 billion during the quarter, compared to analysts' expectations of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. Stifel Financial's quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.60 earnings per share. Equities analysts forecast that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $1.84 annualized dividend and a yield of 1.6%. Stifel Financial's dividend payout ratio is currently 35.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SF. Wells Fargo & Company lifted their price objective on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, July 11th. Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Stifel Nicolaus set a $135.00 price objective on shares of Stifel Financial in a research report on Thursday, July 31st. JMP Securities lifted their price objective on shares of Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a research report on Monday, July 14th. Finally, Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a research report on Sunday, August 3rd. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" 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.