Parkside Financial Bank & Trust trimmed its holdings in Stifel Financial Corp (NYSE:SF) by 27.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 75,369 shares of the financial services provider’s stock after selling 28,000 shares during the quarter. Stifel Financial comprises 1.4% of Parkside Financial Bank & Trust’s portfolio, making the stock its 16th biggest holding. Parkside Financial Bank & Trust owned about 0.11% of Stifel Financial worth $4,325,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the stock. First National Bank of Omaha grew its position in shares of Stifel Financial by 1.9% in the 3rd quarter. First National Bank of Omaha now owns 42,664 shares of the financial services provider’s stock valued at $2,449,000 after purchasing an additional 782 shares during the period. First Mercantile Trust Co. raised its stake in shares of Stifel Financial by 9.1% during the 3rd quarter. First Mercantile Trust Co. now owns 2,726 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 227 shares in the last quarter. California Public Employees Retirement System raised its stake in Stifel Financial by 37.6% in the 3rd quarter. California Public Employees Retirement System now owns 182,667 shares of the financial services provider’s stock valued at $10,481,000 after acquiring an additional 49,942 shares during the period. Retirement Systems of Alabama raised its stake in Stifel Financial by 71.2% in the 3rd quarter. Retirement Systems of Alabama now owns 157,611 shares of the financial services provider’s stock valued at $9,044,000 after acquiring an additional 65,562 shares during the period. Finally, Chicago Equity Partners LLC raised its stake in Stifel Financial by 144.6% in the 3rd quarter. Chicago Equity Partners LLC now owns 49,540 shares of the financial services provider’s stock valued at $2,843,000 after acquiring an additional 29,285 shares during the period. 86.29% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on SF. ValuEngine lowered Stifel Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised Stifel Financial from a “sell” rating to a “hold” rating in a report on Saturday, September 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $62.60.
Stifel Financial (NYSE:SF) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $1.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.47 by $0.03. The company had revenue of $821.50 million during the quarter, compared to the consensus estimate of $798.53 million. Stifel Financial had a return on equity of 14.84% and a net margin of 13.55%. The firm’s revenue was up 11.3% compared to the same quarter last year. During the same period last year, the company earned $1.35 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.60 dividend on an annualized basis and a yield of 0.99%. Stifel Financial’s payout ratio is currently 11.36%.
In related news, Director Robert Edward Grady sold 2,500 shares of Stifel Financial stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $53.45, for a total transaction of $133,625.00. Following the transaction, the director now owns 11,307 shares of the company’s stock, valued at $604,359.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Mark P. Fisher sold 10,000 shares of Stifel Financial stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $59.33, for a total value of $593,300.00. Following the transaction, the vice president now directly owns 24,911 shares in the company, valued at approximately $1,477,969.63. The disclosure for this sale can be found here. Over the last quarter, insiders sold 36,298 shares of company stock valued at $2,108,617. 3.77% of the stock is currently owned by corporate insiders.
Stifel Financial Company 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, the United Kingdom, rest of Europe, and Asia. The company operates through three segments: Global Wealth Management, Institutional Group, and Other.
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