Zions Bancorporation National Association UT Purchases New Stake in Stifel Financial Corporation (NYSE:SF)

Key Points

• Zions Bancorporation acquired a new stake in Stifel Financial Corporation, purchasing 34,666 shares valued at approximately $3,268,000 in the first quarter.
• Stifel Financial recently reported earnings per share (EPS) of $1.71, beating analyst expectations of $1.65, with revenue of $1.28 billion.
• The company announced a quarterly dividend of $0.46 per share, set to be paid on September 16th, representing a yield of 1.6%.

Zions Bancorporation National Association UT purchased a new stake 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 SEC. The fund purchased 34,666 shares of the financial services provider's stock, valued at approximately $3,268,000.

Other large investors have also made changes to their positions in the company. Hancock Whitney Corp boosted its position in 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 purchasing an additional 99 shares during the period. Bessemer Group Inc. boosted its position in Stifel Financial by 52.1% during the fourth quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider's stock worth $34,000 after purchasing an additional 110 shares during the period. Journey Strategic Wealth LLC boosted its position in Stifel Financial by 4.2% during the first quarter. Journey Strategic Wealth LLC now owns 2,907 shares of the financial services provider's stock worth $274,000 after purchasing an additional 117 shares during the period. Stratos Wealth Partners LTD. boosted its position in 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 during the period. Finally, MML Investors Services LLC boosted its position in Stifel Financial by 0.5% during the fourth quarter. MML Investors Services LLC now owns 28,657 shares of the financial services provider's stock worth $3,040,000 after purchasing an additional 136 shares during the period. Institutional investors own 82.01% of the company's stock.

Analyst Upgrades and Downgrades

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

Insider Transactions at Stifel Financial

In other news, Director Michael J. Zimmerman sold 10,000 shares of the stock in a transaction 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 approximately $4,431,592.77. This represents a 17.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.57% of the stock is owned by corporate insiders.

Stifel Financial Price Performance

Stifel Financial stock traded up $0.08 during mid-day trading on Wednesday, hitting $114.55. 342,216 shares of the company were exchanged, compared to its average volume of 794,811. The company has a quick ratio of 0.77, a current ratio of 0.82 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $105.65 and a 200 day moving average of $99.79. Stifel Financial Corporation has a 1-year low of $73.27 and a 1-year high of $120.64. The company has a market capitalization of $11.70 billion, a PE ratio of 22.20 and a beta of 1.11.

Stifel Financial (NYSE:SF - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The financial services provider reported $1.71 earnings per share (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 firm 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 company posted $1.60 earnings per share. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. As a group, sell-side analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current year.

Stifel Financial Announces Dividend

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

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.