Stifel Financial Corp.’s director, Bruce A. Beda, recently sold 8,500 shares of the company at $51.62 per share. There’s no cause for investor concern, however; Stifel has also earned an average “hold” rating from the seven ratings firms monitoring the stock. And its quarterly earnings remain quite healthy.
Transactions from late November into early December did lead to some volatility in the company’s stock. Sales of stock by director James Oates and Thomas Weisel himself, as well as Breda’s aforementioned stock sales, did cause some changes in share price.
However, the 52-week high for share price during that time was $52.88, and the market cap for the company was $3,474 million.
Stifel Financial is a financial holding company focusing on three segments: global wealth management, institutional group management, and “other.” The global health section includes customer financing and asset management. It also runs the Consolidated Stifel Branch System and the Stifel Bank. The institutional segment includes fixed income institutional sales and trading investment banking. The “other” segment includes general interest income from investments.
Stifel also owns and operates its subsidiary Stifel Nicolaus & Company Incorporated, which offers retail and institutional brokerage and investment banking.
Despite some ups and downs at the end of this calendar year, the seven ratings firms covering Stifel stock have rated it “hold” or higher. In fact, Zacks Investment Research upgraded Stifel from “hold” to “strong buy” back in October.
Stifel’s earnings remained solid during this time. According to the company’s quarterly earnings results, released in early November of this year, Stifel earned $0.69 per share for the quarter, topping analysts’ estimate of $0.62 by $0.07. The company earned $641.99 million as compared to the estimate of $639.13 million. Its revenue was up 8.5% on a year-over-year basis.
It’s safe to say any volatility in Stifel’s stock hasn’t affected the company’s health in a significant way. Stifel is likely to end the calendar year positively, so investors are safe!