Van ECK Associates Corp Purchases 28,137 Shares of Stifel Financial Corporation $SF

Key Points

• VanECK Associates increased its Stifel Financial position by 19.1%, purchasing 28,137 additional shares to hold 175,822 shares valued at approximately $12.3 million. Institutional investors own about 82% of the company.
• Stifel Financial reported quarterly EPS of $1.42, exceeding the $1.33 analyst estimate, while revenue rose 13% year over year to $1.45 billion. The company declared a quarterly dividend of $0.34, representing a 1.7% annualized yield.
• Shares opened at $80.78, below the analyst consensus price target of $91.90; analyst sentiment was “Moderate Buy,” with five Buy ratings and four Holds.

Van ECK Associates Corp grew its position in Stifel Financial Corporation (NYSE:SF - Free Report) by 19.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,822 shares of the financial services provider's stock after purchasing an additional 28,137 shares during the period. Van ECK Associates Corp owned about 0.12% of Stifel Financial worth $12,267,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Advisory Services Network LLC bought a new position in shares of Stifel Financial during the 3rd quarter worth approximately $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Stifel Financial in the fourth quarter valued at approximately $34,000. Cullen Frost Bankers Inc. bought a new position in shares of Stifel Financial in the fourth quarter valued at approximately $50,000. BOKF NA increased its position in shares of Stifel Financial by 1,626.9% during the third quarter. BOKF NA now owns 449 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 423 shares during the last quarter. Finally, Danske Bank A S purchased a new stake in shares of Stifel Financial during the second quarter valued at approximately $31,000. 82.01% of the stock is owned by institutional investors.

Stifel Financial Stock Down 0.6%

SF stock opened at $80.78 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 0.88 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $12.20 billion, a PE ratio of 14.46 and a beta of 0.99. Stifel Financial Corporation has a twelve month low of $67.81 and a twelve month high of $89.83. The stock has a 50-day simple moving average of $79.04 and a two-hundred day simple moving average of $76.23.

Stifel Financial (NYSE:SF - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.33 by $0.09. Stifel Financial had a net margin of 16.11% and a return on equity of 19.22%. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The company's revenue for the quarter was up 13.0% on a year-over-year basis. On average, equities analysts predict that Stifel Financial Corporation will post 6.36 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Tuesday, September 1st will be paid a $0.34 dividend. The ex-dividend date is Tuesday, September 1st. This represents a $1.36 annualized dividend and a yield of 1.7%. Stifel Financial's dividend payout ratio is currently 24.33%.

Insider Buying and Selling

In other Stifel Financial news, Director Maryam S. Brown sold 4,700 shares of the firm's stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total value of $372,240.00. Following the completion of the transaction, the director directly owned 5,729 shares of the company's stock, valued at $453,736.80. This trade represents a 45.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

SF has been the topic of several research analyst reports. Zacks Research raised Stifel Financial from a "strong sell" rating to a "hold" rating in a research report on Wednesday, May 20th. Wall Street Zen lowered Stifel Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. raised their target price on Stifel Financial from $80.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, July 23rd. Weiss Ratings reiterated a "buy (b-)" rating on shares of Stifel Financial in a research note on Wednesday, August 26th. Finally, UBS Group set a $90.00 price target on shares of Stifel Financial in a report on Thursday, July 23rd. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $91.90.

About Stifel Financial

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm's main business activities are organized into two core segments: Private Client Group and Institutional Group.

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