Stifel Financial (NYSE:SF) Hits New 1-Year Low - Here's What Happened

Key Points

• Stifel Financial shares fell to a new 52-week low of $65.98, well below their 50-day and 200-day moving averages of roughly $76. The stock closed its prior session at $67.56.
• Analyst sentiment remains cautiously positive, with five Buy ratings and four Holds, but several firms recently lowered their price targets. The consensus rating is “Moderate Buy,” with an average target of $86.08.
• Stifel reported quarterly earnings of $1.42 per share, beating estimates of $1.33, while revenue rose 13% year over year to $1.45 billion. The company also pays a quarterly dividend of $0.34 per share, equivalent to a 2.1% yield.

Stifel Financial Corporation (NYSE:SF - Get Free Report)'s share price reached a new 52-week low on Tuesday. The stock traded as low as $65.98 and last traded at $66.08, with a volume of 1,306,421 shares changing hands. The stock had previously closed at $67.56.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SF. Wall Street Zen cut Stifel Financial from a "buy" rating to a "hold" rating in a research report on Sunday, August 9th. JPMorgan Chase & Co. decreased their price objective on shares of Stifel Financial from $86.00 to $82.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 6th. Weiss Ratings reissued a "buy (b-)" rating on shares of Stifel Financial in a research note on Wednesday, August 26th. Capital One Financial set a $75.00 price objective on shares of Stifel Financial in a research note on Tuesday, October 6th. Finally, TD Cowen dropped their target price on shares of Stifel Financial from $84.00 to $78.00 and set a "hold" rating for the company in a report on Monday, October 12th. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Stifel Financial presently has an average rating of "Moderate Buy" and a consensus target price of $86.08.

Stifel Financial Stock Performance

The firm has a market cap of $9.98 billion, a PE ratio of 11.41 and a beta of 1.01. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.88 and a quick ratio of 0.83. The stock has a 50-day moving average price of $76.31 and a 200 day moving average price of $76.03.

Stifel Financial (NYSE:SF - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.42 EPS for the quarter, beating the consensus estimate of $1.33 by $0.09. Stifel Financial had a return on equity of 19.22% and a net margin of 16.11%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same period in the prior year, the firm posted $1.71 earnings per share. The business's quarterly revenue was up 13.0% compared to the same quarter last year. Research analysts forecast that Stifel Financial Corporation will post 6.17 earnings per share for the current year.

Stifel Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st were paid a dividend of $0.34 per share. The ex-dividend date of this dividend was Tuesday, September 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.1%. Stifel Financial's dividend payout ratio is currently 24.33%.

Insider Buying and Selling at Stifel Financial

In other news, Director Maryam Brown sold 4,700 shares of the stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $79.20, for a total transaction of $372,240.00. Following the transaction, the director directly owned 5,729 shares in the company, valued at $453,736.80. This represents a 45.07% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 3.36% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Stifel Financial

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. purchased a new position in Stifel Financial during the second quarter worth approximately $1,031,197,000. Bank of America Corp DE acquired a new position in shares of Stifel Financial in the 2nd quarter valued at $123,551,000. Bank of New York Mellon Corp acquired a new position in shares of Stifel Financial in the 2nd quarter valued at $93,235,000. Algebris UK Ltd. acquired a new position in shares of Stifel Financial in the 2nd quarter valued at $70,086,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Stifel Financial by 51.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,616,616 shares of the financial services provider's stock valued at $193,403,000 after buying an additional 890,810 shares during the period. 82.01% of the stock is owned by institutional investors and hedge funds.

About Stifel Financial

Stifel Financial Corp. is a financial services holding company headquartered in St. Louis, Missouri. Through its principal operating subsidiaries, including Stifel, Nicolaus & Company, Incorporated, the company provides wealth management, investment banking, securities brokerage and related financial services to individual investors, corporations, municipalities and institutional clients.

Its wealth management business offers investment advice, brokerage services, financial planning, banking and lending solutions, and access to a range of investment products.

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