ETF Store Inc. Takes $225,000 Position in Stifel Financial Corp. (NYSE:SF)

ETF Store Inc. purchased a new stake in shares of Stifel Financial Corp. (NYSE:SF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,672 shares of the financial services provider’s stock, valued at approximately $225,000.

Other institutional investors and hedge funds have also modified their holdings of the company. SageView Advisory Group LLC purchased a new position in shares of Stifel Financial during the 1st quarter valued at $1,251,000. SG Americas Securities LLC purchased a new position in shares of Stifel Financial during the 2nd quarter valued at $1,543,000. Quadrature Capital Ltd purchased a new position in shares of Stifel Financial during the 4th quarter valued at $649,000. Van ECK Associates Corp grew its holdings in shares of Stifel Financial by 36.5% during the 1st quarter. Van ECK Associates Corp now owns 35,083 shares of the financial services provider’s stock valued at $2,742,000 after acquiring an additional 9,384 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in shares of Stifel Financial by 268.6% during the 2nd quarter. Blue Trust Inc. now owns 8,798 shares of the financial services provider’s stock valued at $688,000 after acquiring an additional 6,411 shares in the last quarter. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Stifel Financial Trading Up 0.4 %

Shares of NYSE:SF opened at $85.37 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.80 and a debt-to-equity ratio of 0.38. Stifel Financial Corp. has a 1 year low of $54.81 and a 1 year high of $90.00. The firm has a fifty day moving average price of $84.31 and a 200 day moving average price of $80.35. The stock has a market capitalization of $8.75 billion, a PE ratio of 19.40 and a beta of 1.09.

Stifel Financial (NYSE:SF) last released its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.06. Stifel Financial had a net margin of 11.59% and a return on equity of 13.24%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company earned $1.20 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. Analysts expect that Stifel Financial Corp. will post 6.55 EPS for the current fiscal year.

Stifel Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Tuesday, September 3rd. Stifel Financial’s dividend payout ratio (DPR) is 38.18%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SF. Wolfe Research cut shares of Stifel Financial from an “outperform” rating to a “peer perform” rating in a report on Monday, July 22nd. TD Cowen upped their price objective on shares of Stifel Financial from $85.00 to $88.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. Finally, StockNews.com cut shares of Stifel Financial from a “buy” rating to a “hold” rating in a report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $83.50.

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.