Bank of New York Mellon Corp Acquires 394,863 Shares of Stifel Financial Corporation $SF

Bank of New York Mellon Corp raised its holdings in Stifel Financial Corporation (NYSE:SF) by 40.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,367,474 shares of the financial services provider’s stock after buying an additional 394,863 shares during the period. Bank of New York Mellon Corp owned 0.89% of Stifel Financial worth $101,084,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NewEdge Advisors LLC grew its holdings in shares of Stifel Financial by 5.8% in the 1st quarter. NewEdge Advisors LLC now owns 2,673 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 147 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Stifel Financial by 1,162.6% during the first quarter. Jones Financial Companies Lllp now owns 2,702 shares of the financial services provider’s stock worth $255,000 after acquiring an additional 2,488 shares in the last quarter. EverSource Wealth Advisors LLC raised its holdings in Stifel Financial by 106.8% during the second quarter. EverSource Wealth Advisors LLC now owns 974 shares of the financial services provider’s stock worth $101,000 after acquiring an additional 503 shares in the last quarter. First Trust Advisors LP boosted its position in Stifel Financial by 86.5% during the second quarter. First Trust Advisors LP now owns 128,630 shares of the financial services provider’s stock valued at $13,349,000 after purchasing an additional 59,662 shares during the last quarter. Finally, Amundi boosted its position in Stifel Financial by 51.0% during the second quarter. Amundi now owns 31,906 shares of the financial services provider’s stock valued at $3,425,000 after purchasing an additional 10,771 shares during the last quarter. 82.01% of the stock is owned by institutional investors.

Stifel Financial Stock Performance

NYSE SF opened at $77.40 on Tuesday. The stock has a market cap of $11.87 billion, a PE ratio of 15.06 and a beta of 1.01. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.80 and a current ratio of 0.85. The firm has a 50-day moving average of $73.00 and a 200-day moving average of $76.92. Stifel Financial Corporation has a 52-week low of $67.81 and a 52-week high of $89.83.

Stifel Financial (NYSE:SF) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.06. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.51 billion. Stifel Financial had a net margin of 15.34% and a return on equity of 18.76%. Stifel Financial’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, sell-side analysts anticipate that Stifel Financial Corporation will post 6.22 EPS for the current year.

Stifel Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Monday, June 1st were given a dividend of $0.34 per share. The ex-dividend date was Monday, June 1st. This represents a $1.36 annualized dividend and a yield of 1.8%. Stifel Financial’s dividend payout ratio (DPR) is presently 26.46%.

Analysts Set New Price Targets

Several research firms recently weighed in on SF. UBS Group reissued a “buy” rating and issued a $86.00 target price (down from $89.00) on shares of Stifel Financial in a research note on Wednesday, July 8th. TD Cowen cut their price target on shares of Stifel Financial from $136.00 to $92.00 and set a “hold” rating for the company in a research note on Monday, March 23rd. Zacks Research raised shares of Stifel Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, May 20th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Stifel Financial in a research note on Friday, May 29th. Five analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $91.75.

Stifel Financial Company Profile

Stifel Financial Corp. is a diversified financial services holding company headquartered in St. Louis, Missouri. Founded in 1890, the firm has grown into a full‐service brokerage and investment banking organization serving individual investors, corporations and institutions. Through its principal subsidiary, Stifel, Nicolaus & Company, Incorporated, the company delivers a broad array of financial products and services backed by research‐driven insights.

The firm’s main business activities are organized into two core segments: Private Client Group and Institutional Group.