Shares of investment bank Stifel Financial (NYSE:SF) fell approximately 2.8% to $83.65 today after the company reported first-quarter adjusted earnings per share that significantly missed analyst expectations.
Stifel reported adjusted earnings of 49 cents per share for the first quarter, falling short of the $1.65 per share estimated by analysts, according to data compiled by LSEG.
The earnings miss occurred despite a reported increase in investment banking revenue, which rose approximately 11% to $232 million in Q1, compared to $209.7 million in the same period last year.
Following the session's moves, the stock is now down about 21.4% year-to-date.
Of the nine brokerages covering the stock, two rate it a "buy" and seven rate it a "hold," with a median price target of $105.50, according to LSEG data.