SouthState Corp Cuts Stake in Stifel Financial Corp. (NYSE:SF)

SouthState Corp decreased its position in Stifel Financial Corp. (NYSE:SF) by 42.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,000 shares of the financial services provider’s stock after selling 1,500 shares during the period. SouthState Corp’s holdings in Stifel Financial were worth $168,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Chase Investment Counsel Corp purchased a new stake in Stifel Financial in the 2nd quarter valued at approximately $3,724,000. TD Asset Management Inc raised its position in Stifel Financial by 16.7% in the second quarter. TD Asset Management Inc now owns 23,800 shares of the financial services provider’s stock worth $2,003,000 after acquiring an additional 3,400 shares in the last quarter. Legacy Capital Wealth Partners LLC acquired a new stake in Stifel Financial in the second quarter valued at $312,000. Fiera Capital Corp boosted its position in shares of Stifel Financial by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 678,575 shares of the financial services provider’s stock worth $57,102,000 after purchasing an additional 8,048 shares in the last quarter. Finally, Crestwood Advisors Group LLC grew its stake in shares of Stifel Financial by 1.1% during the 2nd quarter. Crestwood Advisors Group LLC now owns 128,902 shares of the financial services provider’s stock worth $10,847,000 after purchasing an additional 1,351 shares during the period. 82.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Stifel Financial Stock Up 0.4 %

Shares of NYSE SF opened at $85.37 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.80. The firm’s 50-day moving average is $84.31 and its two-hundred day moving average is $80.35. Stifel Financial Corp. has a 12-month low of $54.81 and a 12-month high of $90.00. The company 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 posted its 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. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Stifel Financial had a return on equity of 13.24% and a net margin of 11.59%. Stifel Financial’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Equities analysts anticipate that Stifel Financial Corp. will post 6.55 EPS for the current fiscal year.

Stifel Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 1.97%. The ex-dividend date is Tuesday, September 3rd. Stifel Financial’s payout ratio is 38.18%.

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.