Stifel Financial Corporation (NYSE:SF) Shares Sold by Swiss National Bank

Key Points

• The Swiss National Bank reduced its stake in Stifel Financial Corporation by 1.7%, owning approximately 198,213 shares valued at $18.68 million after selling 3,400 shares in the first quarter.
• Stifel Financial's stock received several upgrades from analysts, with Citigroup raising its price target from $115 to $135 and several other firms boosting their target prices, indicating a positive outlook for the company's stock.
• The company announced a quarterly dividend of $0.46 per share, set to be paid on September 16, 2023, reflecting an annual yield of 1.6% and a payout ratio of 35.66%.

Swiss National Bank reduced its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 198,213 shares of the financial services provider's stock after selling 3,400 shares during the period. Swiss National Bank owned 0.19% of Stifel Financial worth $18,684,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Hancock Whitney Corp increased its stake in shares of Stifel Financial by 1.3% during the fourth quarter. Hancock Whitney Corp now owns 7,541 shares of the financial services provider's stock worth $800,000 after acquiring an additional 99 shares during the period. Bessemer Group Inc. lifted its position in Stifel Financial by 52.1% in the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock valued at $34,000 after purchasing an additional 110 shares during the period. Journey Strategic Wealth LLC boosted its holdings in Stifel Financial by 4.2% in the 1st quarter. Journey Strategic Wealth LLC now owns 2,907 shares of the financial services provider's stock valued at $274,000 after purchasing an additional 117 shares in the last quarter. Stratos Wealth Partners LTD. increased its position in Stifel Financial by 3.0% during the 1st 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 during the period. Finally, MML Investors Services LLC lifted its holdings in shares of Stifel Financial by 0.5% in the 4th quarter. MML Investors Services LLC now owns 28,657 shares of the financial services provider's stock valued at $3,040,000 after buying an additional 136 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Citigroup raised Stifel Financial from a "neutral" rating to a "buy" rating and raised their target price for the company from $115.00 to $135.00 in a report on Thursday, July 31st. Wolfe Research upgraded shares of Stifel Financial from a "peer perform" rating to an "outperform" rating and set a $108.00 price objective for the company in a research note on Thursday, April 24th. Wall Street Zen raised shares of Stifel Financial from a "sell" rating to a "hold" rating in a report on Sunday, August 3rd. JMP Securities boosted their price target on Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a research note on Monday, July 14th. Finally, Stifel Nicolaus set a $135.00 price objective on shares of Stifel Financial in a research report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $115.78.

Stifel Financial Trading Down 0.4%

SF stock traded down $0.45 on Thursday, hitting $115.79. 697,462 shares of the company were exchanged, compared to its average volume of 745,610. 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 stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 22.44 and a beta of 1.11. Stifel Financial Corporation has a twelve month low of $73.27 and a twelve month high of $120.64. The business's fifty day moving average is $106.52 and its two-hundred day moving average is $99.92.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly 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 return on equity of 13.93% and a net margin of 11.90%. The company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the firm posted $1.60 earnings per share. The firm's revenue was up 5.4% on a year-over-year basis. As a group, research analysts forecast that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 16th. Investors of record on Tuesday, September 2nd will be paid 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 payout ratio is 35.66%.

Insider Buying and Selling

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $96.69, for a total transaction of $966,900.00. Following the sale, the director owned 45,833 shares in the company, valued at $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 is available through this link. 3.28% of the stock is owned by corporate insiders.

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.