JPMorgan Chase & Co. Cuts Stifel Financial (NYSE:SF) Price Target to $100.00

Stifel Financial (NYSE:SF) had its price target reduced by JPMorgan Chase & Co. from $123.00 to $100.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

A number of other analysts also recently issued reports on the company. TD Cowen cut their target price on Stifel Financial from $124.00 to $84.00 and set a “hold” rating for the company in a research note on Wednesday, April 9th. Citigroup cut their price objective on shares of Stifel Financial from $125.00 to $105.00 and set a “neutral” rating for the company in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Stifel Financial from $135.00 to $106.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their price target on shares of Stifel Financial from $121.00 to $105.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, JMP Securities decreased their price objective on Stifel Financial from $135.00 to $120.00 and set a “market outperform” rating on the stock in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $105.71.

Stifel Financial Stock Performance

NYSE:SF opened at $82.12 on Friday. The company has a market cap of $8.52 billion, a P/E ratio of 13.16 and a beta of 1.00. Stifel Financial has a twelve month low of $73.27 and a twelve month high of $120.64. The company’s 50-day moving average price is $98.41 and its 200-day moving average price is $104.69. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.27.

Stifel Financial (NYSE:SF) last released its earnings results on Wednesday, January 29th. The financial services provider reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.27. Stifel Financial had a net margin of 14.00% and a return on equity of 16.59%. On average, sell-side analysts forecast that Stifel Financial will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a $0.46 dividend. This is a positive change from Stifel Financial’s previous quarterly dividend of $0.42. The ex-dividend date was Monday, March 3rd. This represents a $1.84 dividend on an annualized basis and a yield of 2.24%. Stifel Financial’s payout ratio is presently 29.49%.

Institutional Investors Weigh In On Stifel Financial

A number of institutional investors have recently modified their holdings of SF. Norges Bank acquired a new position in Stifel Financial during the 4th quarter worth about $137,448,000. FMR LLC boosted its stake in shares of Stifel Financial by 8.5% in the fourth quarter. FMR LLC now owns 8,628,832 shares of the financial services provider’s stock valued at $915,346,000 after purchasing an additional 672,420 shares during the period. Wellington Management Group LLP grew its holdings in shares of Stifel Financial by 32.2% in the fourth quarter. Wellington Management Group LLP now owns 2,588,964 shares of the financial services provider’s stock valued at $274,637,000 after purchasing an additional 630,255 shares in the last quarter. GAMMA Investing LLC increased its stake in Stifel Financial by 47,124.2% during the 1st quarter. GAMMA Investing LLC now owns 425,018 shares of the financial services provider’s stock worth $40,062,000 after buying an additional 424,118 shares during the period. Finally, Walleye Capital LLC lifted its holdings in Stifel Financial by 477.9% during the 4th quarter. Walleye Capital LLC now owns 238,945 shares of the financial services provider’s stock worth $25,347,000 after buying an additional 197,598 shares in the last quarter. 82.01% of the stock is owned by institutional investors and hedge funds.

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.