Stifel Financial (NYSE:SF) Releases Quarterly Earnings Results

Key Points

• Stifel Financial reported an earnings per share (EPS) of $1.71 for the quarter, exceeding analysts' expectations of $1.65 by $0.06.
• The firm's revenue grew by 5.4% year-over-year, totaling $1.28 billion, surpassing estimates of $1.25 billion.
• Stifel Financial declared a quarterly dividend of $0.46 per share, reflecting an annualized yield of 1.61%.

Stifel Financial (NYSE:SF - Get Free Report) issued its quarterly earnings results on Wednesday. The financial services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.06, Zacks reports. The business had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.25 billion. Stifel Financial had a net margin of 11.90% and a return on equity of 13.93%. The company's revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.60 EPS.

Stifel Financial Price Performance

Stifel Financial stock traded down $3.34 during midday trading on Friday, reaching $110.79. 359,512 shares of the stock traded hands, compared to its average volume of 802,214. The stock's fifty day moving average is $102.80 and its 200-day moving average is $99.94. Stifel Financial has a 12 month low of $73.27 and a 12 month high of $120.64. The company has a quick ratio of 0.77, a current ratio of 0.81 and a debt-to-equity ratio of 0.28. The stock has a market cap of $11.38 billion, a P/E ratio of 21.47 and a beta of 1.09.

Stifel Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, June 2nd. Stifel Financial's payout ratio is currently 35.18%.

Insiders Place Their Bets

In other Stifel Financial news, Director Michael J. Zimmerman sold 10,000 shares of the stock in a transaction on Friday, June 6th. The shares were sold at an average price of $96.69, for a total transaction of $966,900.00. Following the completion of the transaction, the director owned 45,833 shares in the company, valued at $4,431,592.77. This trade represents a 17.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.28% of the company's stock.

Institutional Trading of Stifel Financial

A hedge fund recently raised its stake in Stifel Financial stock. Jones Financial Companies Lllp boosted its position in shares of Stifel Financial Corporation (NYSE:SF - Free Report) by 1,162.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,702 shares of the financial services provider's stock after buying an additional 2,488 shares during the quarter. Jones Financial Companies Lllp's holdings in Stifel Financial were worth $255,000 as of its most recent filing with the Securities & Exchange Commission. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SF has been the subject of a number of analyst reports. 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 research report on Monday, July 14th. Stifel Nicolaus set a $135.00 target price on shares of Stifel Financial in a report on Thursday. Wells Fargo & Company raised their price target on Stifel Financial from $102.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, July 11th. TD Cowen lowered their price objective on Stifel Financial from $124.00 to $84.00 and set a "hold" rating on the stock in a research report on Wednesday, April 9th. Finally, Wall Street Zen cut Stifel Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Stifel Financial has an average rating of "Hold" and a consensus target price of $115.78.

About Stifel Financial

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.