Thomas Weisel, a director at Stifel Financial Corp (NYSE:SF), recently sold 13,000 shares of the company's common stock. The shares were sold at an average price of $115.01 each, bringing the total value of the transaction to approximately $1.5 million. Following this sale, Weisel retains ownership of 13,178 shares in the company. The transaction was disclosed in a regulatory filing with the Securities and Exchange Commission.
In other recent news, Stifel Financial Corp. has reported significant financial growth, with a notable rise in both earnings per share (EPS) and net revenue. The company's third-quarter earnings call revealed an EPS jump to $1.50, a 150% increase from the previous year, and net revenue reaching $1.23 billion, a 17% year-over-year increase. This robust performance led TD Cowen to raise Stifel Financial's stock price target from $100.00 to $105.00, maintaining a Hold rating on the company's shares.
Further, Stifel Financial has declared dividends for its common stock and three series of preferred stock, with payments scheduled for mid-December. The company announced a quarterly cash dividend of $0.42 per share for its common stock, and dividends for its preferred stock series B, C, and D.
These recent developments underline Stifel Financial's continued focus on enhancing its institutional group and net interest income. The company maintains a strong capital position, evidenced by a Tier 1 leverage capital ratio of 11.3%. Stifel Financial aims to surpass $5 billion in revenue and achieve $8 in EPS by 2025.
InvestingPro Insights
While Thomas Weisel's recent sale of Stifel Financial Corp (NYSE:SF) shares might raise eyebrows, a closer look at the company's financial metrics and market performance reveals a more nuanced picture. According to InvestingPro data, Stifel's stock is trading near its 52-week high, with a price that's 97.95% of its peak. This strong performance is underscored by the company's impressive 93.55% total return over the past year.
Stifel's financial health appears robust, with a revenue of $4.72 billion in the last twelve months as of Q3 2024, representing a 9.78% growth. The company's profitability is also noteworthy, with a gross profit margin of 94.62% and an operating income margin of 19.84% for the same period.
InvestingPro Tips highlight that Stifel has raised its dividend for 8 consecutive years, demonstrating a commitment to shareholder returns. Additionally, the company is trading at a low P/E ratio relative to its near-term earnings growth, with a PEG ratio of 0.73, suggesting potential undervaluation despite the recent stock price appreciation.
These insights provide context to Weisel's stock sale and indicate that Stifel Financial Corp continues to show strong financial performance and market positioning. Investors seeking a more comprehensive analysis can find 12 additional InvestingPro Tips on the InvestingPro platform, offering a deeper dive into Stifel's investment potential.
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