Analysts have established a price target of $125.90 for Stifel Financial Corporation (NYSE:SF), reflecting a consensus rating of “Moderate Buy.” This assessment comes from a total of twelve analysts currently covering the firm, according to Marketbeat Ratings. Among these analysts, six have issued a “hold” recommendation while the other six have advised a “buy.”
Several research firms have recently provided updates on Stifel Financial. Notably, Zacks Research downgraded the stock from a “strong-buy” rating to a “hold” on November 24, 2023. Conversely, JMP Securities raised their price target from $130.00 to $135.00 and assigned a “market outperform” rating on October 9, 2023. Similarly, JPMorgan Chase & Co. increased their target price from $125.00 to $133.00 while maintaining a “neutral” rating as of October 23, 2023.
Additionally, TD Cowen upgraded Stifel Financial from a “hold” to a “buy” rating, raising their price target from $118.00 to $131.00 on October 8, 2023. BMO Capital Markets also initiated coverage on the company, issuing a “market perform” rating with a price target of $121.00 on October 3, 2023.
Recent Financial Performance
Stifel Financial recently reported its quarterly earnings on October 22, 2023. The financial services provider announced earnings per share (EPS) of $1.95, exceeding analysts’ consensus estimates of $1.89 by $0.06. The firm achieved a net margin of 12.44% and a return on equity of 14.95%, with revenues reaching $1.43 billion, surpassing the anticipated $1.33 billion. This revenue reflects a 16.7% increase year-over-year compared to the same period last year, when the company reported an EPS of $1.50.
Looking forward, analysts project that Stifel Financial will report an EPS of 8.26 for the current fiscal year.
Dividend Announcement and Institutional Investments
In addition to its financial results, Stifel Financial announced a quarterly dividend of $0.46 per share, set to be paid on December 15, 2023. Shareholders on record as of December 1, 2023 will receive this dividend, which translates to an annualized dividend of $1.84 and a yield of 1.5%. The company’s dividend payout ratio stands at 32.51%.
Several institutional investors have also adjusted their stakes in Stifel Financial recently. Notably, Advisory Services Network LLC acquired a new position valued at approximately $29,000 during the third quarter. Pinnacle Holdings LLC invested around $32,000, while SJS Investment Consulting Inc. significantly increased its stake by 2,383.3% during the same period, now holding 298 shares valued at around $34,000. Other investors, including HM Payson & Co. and Root Financial Partners LLC, also made new purchases worth approximately $37,000 each.
Institutional investors currently hold 82.01% of Stifel Financial’s stock, reflecting strong confidence in the company’s prospects.
Stifel Financial Corporation provides a range of financial services, including retail and institutional wealth management and investment banking, to individual investors, corporations, municipalities, and institutions both in the United States and internationally. The company operates through three segments: Global Wealth Management, Institutional Group, and Other.
