M&T Bank Corp Lowers Position in Stifel Financial Corporation (NYSE:SF)

M&T Bank Corp trimmed its stake in Stifel Financial Corporation (NYSE:SF) by 4.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,806 shares of the financial services provider’s stock after selling 125 shares during the quarter. M&T Bank Corp’s holdings in Stifel Financial were worth $264,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. NBC Securities Inc. purchased a new stake in Stifel Financial in the first quarter worth about $26,000. Alpine Bank Wealth Management purchased a new position in shares of Stifel Financial during the 1st quarter worth $27,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Stifel Financial by 123.6% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 331 shares of the financial services provider’s stock valued at $31,000 after buying an additional 183 shares in the last quarter. Bessemer Group Inc. lifted its stake in Stifel Financial by 52.1% in the 4th quarter. Bessemer Group Inc. now owns 321 shares of the financial services provider’s stock worth $34,000 after purchasing an additional 110 shares in the last quarter. Finally, Quarry LP bought a new stake in shares of Stifel Financial in the 4th quarter worth about $49,000. 82.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SF shares. Wolfe Research upgraded shares of Stifel Financial from a “peer perform” rating to an “outperform” rating and set a $108.00 price target on the stock in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Stifel Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 13th. TD Cowen reduced their price objective on shares of Stifel Financial from $124.00 to $84.00 and set a “hold” rating for the company in a research report on Wednesday, April 9th. Citigroup upped their price target on shares of Stifel Financial from $94.00 to $115.00 and gave the stock a “neutral” rating in a research note on Monday, July 7th. Finally, JPMorgan Chase & Co. cut their price objective 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Stifel Financial has a consensus rating of “Hold” and a consensus target price of $110.88.

Insider Activity at Stifel Financial

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

Stifel Financial Price Performance

Stifel Financial stock opened at $109.77 on Friday. Stifel Financial Corporation has a 52 week low of $73.27 and a 52 week high of $120.64. The stock has a fifty day moving average of $99.92 and a 200-day moving average of $99.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.81. The stock has a market capitalization of $11.28 billion, a P/E ratio of 20.99 and a beta of 1.09.

Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Wednesday, April 23rd. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $1.64 by ($1.15). Stifel Financial had a return on equity of 13.88% and a net margin of 12.26%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period last year, the company earned $1.49 earnings per share. The business’s revenue for the quarter was up 7.9% compared to the same quarter last year. On average, sell-side analysts expect that Stifel Financial Corporation will post 8.26 earnings per share for the current fiscal year.

Stifel Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, June 2nd. Stifel Financial’s payout ratio is presently 35.18%.

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.