Drive Wealth Management LLC Takes Position in Stifel Financial Corporation $SF

Drive Wealth Management LLC purchased a new stake in Stifel Financial Corporation (NYSE:SF) during the second quarter, Holdings Channel.com reports. The firm purchased 2,078 shares of the financial services provider’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SF. GAMMA Investing LLC increased its holdings in shares of Stifel Financial by 401.0% in the 1st quarter. GAMMA Investing LLC now owns 4,509 shares of the financial services provider’s stock valued at $425,000 after acquiring an additional 3,609 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Stifel Financial by 263.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 19,711 shares of the financial services provider’s stock worth $1,858,000 after purchasing an additional 14,284 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Stifel Financial by 31.3% in the 1st quarter. Janney Montgomery Scott LLC now owns 10,505 shares of the financial services provider’s stock worth $990,000 after purchasing an additional 2,505 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Stifel Financial in the 1st quarter worth $361,000. Finally, Asset Management One Co. Ltd. acquired a new stake in shares of Stifel Financial in the 1st quarter worth $1,165,000. 82.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SF. Wall Street Zen raised Stifel Financial from a “sell” rating to a “hold” rating in a research report on Sunday, August 3rd. Cowen raised Stifel Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, October 8th. TD Cowen raised Stifel Financial from a “hold” rating to a “buy” rating and raised their price objective for the stock from $118.00 to $131.00 in a research report on Wednesday, October 8th. UBS Group set a $135.00 price objective on Stifel Financial in a research report on Thursday, October 9th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Stifel Financial in a research report on Wednesday, October 8th. Six research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $122.60.

Stifel Financial Stock Performance

Shares of SF opened at $112.47 on Wednesday. The stock has a 50-day moving average of $113.21 and a two-hundred day moving average of $103.27. Stifel Financial Corporation has a one year low of $73.27 and a one year high of $120.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.77 and a current ratio of 0.82. The stock has a market cap of $11.49 billion, a P/E ratio of 21.80 and a beta of 1.13.

Stifel Financial (NYSE:SF) last issued its quarterly earnings results on Wednesday, July 30th. The financial services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.06. Stifel Financial had a return on equity of 13.93% and a net margin of 11.90%.The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The firm’s revenue was up 5.4% compared to the same quarter last year. As a group, research analysts predict that Stifel Financial Corporation will post 8.26 EPS for the current year.

Stifel Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $1.84 dividend on an annualized basis and a yield of 1.6%. Stifel Financial’s payout ratio is currently 35.66%.

Stifel Financial Profile

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.