M&T Bank Corp Decreases Holdings in Piper Sandler Companies (NYSE:PIPR)

M&T Bank Corp decreased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 13.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820 shares of the financial services provider’s stock after selling 129 shares during the quarter. M&T Bank Corp’s holdings in Piper Sandler Companies were worth $246,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sage Rhino Capital LLC purchased a new stake in Piper Sandler Companies in the 4th quarter valued at approximately $205,000. Bailard Inc. purchased a new stake in Piper Sandler Companies in the 4th quarter valued at approximately $260,000. Smartleaf Asset Management LLC lifted its stake in Piper Sandler Companies by 336.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after buying an additional 242 shares in the last quarter. Fisher Asset Management LLC lifted its stake in Piper Sandler Companies by 7.3% in the 4th quarter. Fisher Asset Management LLC now owns 155,909 shares of the financial services provider’s stock valued at $46,765,000 after buying an additional 10,588 shares in the last quarter. Finally, Proficio Capital Partners LLC purchased a new stake in Piper Sandler Companies in the 4th quarter valued at approximately $8,097,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

PIPR has been the topic of a number of recent research reports. The Goldman Sachs Group reduced their target price on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Up 0.8 %

Shares of Piper Sandler Companies stock opened at $254.06 on Friday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The firm has a market cap of $4.50 billion, a PE ratio of 24.86 and a beta of 1.46. The business’s fifty day moving average is $280.51 and its two-hundred day moving average is $297.56.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the prior year, the business posted $4.03 earnings per share. Equities research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.02%. Piper Sandler Companies’s payout ratio is 25.44%.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.