OLD National Bancorp IN Makes New Investment in Stifel Financial Corporation $SF

Key Points

• OLD National Bancorp IN made a new investment in Stifel Financial Corporation, acquiring 2,341 shares valued at approximately $243,000 during the second quarter.
• Stifel Financial reported $1.71 EPS for the last quarter, beating expectations, and had a revenue of $1.28 billion, exceeding analyst estimates.
• The company's dividend yield stands at 1.6%, with a recently declared quarterly dividend of $0.46 per share, reflecting a dividend payout ratio of 35.66%.

OLD National Bancorp IN acquired a new stake in shares of Stifel Financial Corporation (NYSE:SF - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 2,341 shares of the financial services provider's stock, valued at approximately $243,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Zurich Insurance Group Ltd FI purchased a new position in Stifel Financial in the 1st quarter valued at about $1,386,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Stifel Financial in the first quarter valued at approximately $361,000. Sumitomo Mitsui Trust Group Inc. purchased a new position in shares of Stifel Financial in the first quarter valued at approximately $1,648,000. GAMMA Investing LLC boosted its stake in shares of Stifel Financial by 401.0% in the first quarter. GAMMA Investing LLC now owns 4,509 shares of the financial services provider's stock worth $425,000 after acquiring an additional 3,609 shares during the last quarter. Finally, Stratos Wealth Partners LTD. increased its position in shares of Stifel Financial by 3.0% during the first quarter. Stratos Wealth Partners LTD. now owns 4,328 shares of the financial services provider's stock worth $408,000 after purchasing an additional 127 shares in the last quarter. Hedge funds and other institutional investors own 82.01% of the company's stock.

Stifel Financial Price Performance

Shares of SF stock opened at $111.76 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.82 and a quick ratio of 0.77. The company has a market capitalization of $11.42 billion, a PE ratio of 21.66 and a beta of 1.13. The firm's 50-day moving average is $113.51 and its two-hundred day moving average is $102.21. Stifel Financial Corporation has a 12 month low of $73.27 and a 12 month high of $120.64.

Stifel Financial (NYSE:SF - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.71 EPS for the quarter, beating the consensus estimate of $1.65 by $0.06. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. Analysts predict 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 Tuesday, September 16th. Stockholders of record on Tuesday, September 2nd were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Tuesday, September 2nd. Stifel Financial's dividend payout ratio is 35.66%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SF. Cowen upgraded Stifel Financial from a "hold" rating to a "buy" rating in a report on Wednesday. JMP Securities increased their target price on shares of Stifel Financial from $120.00 to $130.00 and gave the company a "market outperform" rating in a research report on Monday, July 14th. Citigroup upgraded shares of Stifel Financial from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $115.00 to $135.00 in a research report on Thursday, July 31st. Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a research note on Sunday, August 3rd. Finally, BMO Capital Markets assumed coverage on Stifel Financial in a report on Friday, October 3rd. They set a "market perform" rating and a $121.00 target price on the stock. Six equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.60.

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.

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