6,476 Shares in Stifel Financial Corporation (NYSE:SF) Purchased by Vestcor Inc

Key Points

• Vestcor Inc has made a significant investment of approximately $610,000 in Stifel Financial Corporation, purchasing 6,476 shares during the first quarter.
• Stifel Financial reported a quarterly earnings of $1.71 per share, exceeding analysts' expectations of $1.65, with a revenue of $1.28 billion for the quarter.
• The company declared a quarterly dividend of $0.46 per share, resulting in an annualized dividend of $1.84 and a yield of 1.7%.

Vestcor Inc acquired a new position in Stifel Financial Corporation (NYSE:SF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,476 shares of the financial services provider's stock, valued at approximately $610,000.

Other institutional investors have also added to or reduced their stakes in the company. NBC Securities Inc. bought a new stake in Stifel Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management bought a new position in Stifel Financial in the first quarter worth approximately $27,000. Bessemer Group Inc. raised its stake in Stifel Financial by 52.1% in the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after buying an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Stifel Financial by 123.6% in 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 in the last quarter. Finally, Allworth Financial LP raised its stake in Stifel Financial by 67.7% in 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 in the last quarter. Institutional investors own 82.01% of the company's stock.

Insider Buying and Selling at Stifel Financial

In other Stifel Financial 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 value of $966,900.00. Following the completion of the transaction, the director owned 45,833 shares in the company, valued at approximately $4,431,592.77. This represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 3.28% of the company's stock.

Stifel Financial Stock Performance

Shares of SF traded down $1.58 during trading hours on Thursday, reaching $110.26. 237,457 shares of the company traded hands, compared to its average volume of 803,277. The stock has a market capitalization of $11.33 billion, a P/E ratio of 21.36 and a beta of 1.11. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. Stifel Financial Corporation has a 12-month low of $73.27 and a 12-month high of $120.64. The business has a fifty day moving average price of $104.22 and a 200-day moving average price of $99.97.

Stifel Financial (NYSE:SF - Get Free Report) last posted 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 the consensus estimate of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The firm's quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.60 earnings per share. Equities analysts anticipate that Stifel Financial Corporation will post 8.26 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.7%. Stifel Financial's dividend payout ratio (DPR) is currently 35.66%.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. JMP Securities lifted their price target on shares of Stifel Financial from $120.00 to $130.00 and gave the stock a "market outperform" rating in a report on Monday, July 14th. JPMorgan Chase & Co. cut their price target on shares of Stifel Financial from $123.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted their price target on shares of Stifel Financial from $102.00 to $125.00 and gave the stock an "overweight" rating in a report on Friday, July 11th. Stifel Nicolaus set a $135.00 price target on shares of Stifel Financial in a report on Thursday, July 31st. Finally, Citigroup raised shares of Stifel Financial from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $115.00 to $135.00 in a report on Thursday, July 31st. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently 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.