Stifel Financial Corporation (NYSE:SF)’s share price dropped 5.6% during mid-day trading on Tuesday . The company traded as low as $45.57 and last traded at $45.75. Approximately 506,274 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 463,720 shares. The stock had previously closed at $48.46.

SF has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Stifel Financial Corporation from a “buy” rating to a “sell” rating in a report on Tuesday, May 16th. Nomura reissued a “neutral” rating on shares of Stifel Financial Corporation in a report on Tuesday, May 23rd. BidaskClub raised Stifel Financial Corporation from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. Wells Fargo & Company reissued a “market perform” rating and issued a $50.00 price objective (down from $54.00) on shares of Stifel Financial Corporation in a report on Monday, June 12th. Finally, Instinet downgraded Stifel Financial Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $51.00 in a report on Tuesday, May 23rd. Eight equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $53.33.

The stock has a 50-day moving average of $48.87 and a 200-day moving average of $48.20. The firm has a market capitalization of $3.14 billion, a PE ratio of 23.73 and a beta of 1.70.

Stifel Financial Corporation (NYSE:SF) last announced its earnings results on Monday, July 31st. The financial services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.14. Stifel Financial Corporation had a return on equity of 9.30% and a net margin of 6.03%. The firm had revenue of $725.60 million during the quarter, compared to the consensus estimate of $689.67 million. During the same quarter in the prior year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 11.3% compared to the same quarter last year. On average, equities analysts expect that Stifel Financial Corporation will post $3.43 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be issued a $0.10 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.40 annualized dividend and a yield of 0.87%. Stifel Financial Corporation’s dividend payout ratio (DPR) is 20.73%.

In other Stifel Financial Corporation news, Director Kelvin R. Westbrook sold 5,200 shares of the company’s stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $48.08, for a total value of $250,016.00. Following the completion of the transaction, the director now owns 6,684 shares of the company’s stock, valued at approximately $321,366.72. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Frederick O. Hanser sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $50.00, for a total value of $200,000.00. Following the completion of the transaction, the director now directly owns 33,255 shares of the company’s stock, valued at approximately $1,662,750. The disclosure for this sale can be found here. Corporate insiders own 5.14% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SF. Public Employees Retirement System of Ohio raised its holdings in Stifel Financial Corporation by 5.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,379 shares of the financial services provider’s stock valued at $109,000 after acquiring an additional 113 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Stifel Financial Corporation by 9.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,570 shares of the financial services provider’s stock valued at $118,000 after acquiring an additional 212 shares in the last quarter. Pacad Investment Ltd. raised its holdings in Stifel Financial Corporation by 442.9% in the 2nd quarter. Pacad Investment Ltd. now owns 3,800 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 3,100 shares in the last quarter. Riverhead Capital Management LLC raised its holdings in Stifel Financial Corporation by 91.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,827 shares of the financial services provider’s stock valued at $176,000 after acquiring an additional 1,827 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new position in Stifel Financial Corporation in the 1st quarter valued at approximately $190,000. 87.11% of the stock is owned by hedge funds and other institutional investors.

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About Stifel Financial Corporation

Stifel Financial Corp. is a financial holding company. Its principal subsidiary is Stifel, Nicolaus & Company, Incorporated, a retail and institutional wealth management and investment banking firm. It operates through three segments: Global Wealth Management, Institutional Group and Other. The Global Wealth Management segment consists of the Private Client Group and Stifel Bank businesses.

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