Stifel Financial (SF) Upgraded to “Buy” at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Stifel Financial (NYSE:SF) from a neutral rating to a buy rating in a report published on Monday morning, Marketbeat reports. The brokerage currently has $77.00 target price on the financial services provider’s stock, up from their previous target price of $56.00.

Several other research firms have also recently commented on SF. Zacks Investment Research raised Stifel Financial from a hold rating to a buy rating and set a $67.00 price target for the company in a report on Friday, January 5th. Wells Fargo & Co increased their target price on Stifel Financial from $64.00 to $70.00 in a report on Thursday, January 4th. Nomura raised Stifel Financial from a neutral rating to a buy rating and increased their target price for the stock from $58.00 to $77.00 in a report on Wednesday, January 3rd. Finally, Instinet raised Stifel Financial from a neutral rating to a buy rating in a report on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $66.83.

Stifel Financial (NYSE:SF) opened at $67.01 on Monday. The company has a quick ratio of 0.61, a current ratio of 0.67 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $4,590.00, a P/E ratio of 26.70, a price-to-earnings-growth ratio of 1.11 and a beta of 1.70. Stifel Financial has a twelve month low of $41.93 and a twelve month high of $67.08.

Stifel Financial (NYSE:SF) last posted its quarterly earnings results on Monday, October 30th. The financial services provider reported $0.89 EPS for the quarter, beating the consensus estimate of $0.83 by $0.06. The firm had revenue of $721.20 million during the quarter, compared to analysts’ expectations of $701.12 million. Stifel Financial had a return on equity of 9.78% and a net margin of 7.61%. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.69 EPS. equities research analysts expect that Stifel Financial will post 3.44 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, November 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.60%. Stifel Financial’s payout ratio is presently 15.94%.

In related news, Vice Chairman Ben A. Plotkin sold 20,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $53.70, for a total transaction of $1,074,000.00. Following the sale, the insider now directly owns 96,226 shares in the company, valued at approximately $5,167,336.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Thomas B. Michaud sold 24,536 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $52.40, for a total value of $1,285,686.40. Following the sale, the insider now owns 60,589 shares in the company, valued at $3,174,863.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,304 shares of company stock worth $2,869,480. 3.60% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Stifel Financial by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,990 shares of the financial services provider’s stock worth $459,000 after buying an additional 35 shares during the period. Neuberger Berman Group LLC raised its stake in Stifel Financial by 0.8% during the 2nd quarter. Neuberger Berman Group LLC now owns 5,627 shares of the financial services provider’s stock worth $259,000 after buying an additional 42 shares during the period. Public Employees Retirement System of Ohio raised its stake in Stifel Financial by 5.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,379 shares of the financial services provider’s stock worth $109,000 after buying an additional 113 shares during the period. ETRADE Capital Management LLC raised its stake in Stifel Financial by 0.7% during the 2nd quarter. ETRADE Capital Management LLC now owns 19,819 shares of the financial services provider’s stock worth $911,000 after buying an additional 147 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Stifel Financial by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,570 shares of the financial services provider’s stock worth $118,000 after buying an additional 212 shares during the period. Institutional investors and hedge funds own 88.54% of the company’s stock.

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About Stifel Financial

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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