M&T Bank Corp Cuts Stake in Piper Sandler Companies (NYSE:PIPR)

M&T Bank Corp lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 949 shares of the financial services provider’s stock after selling 78 shares during the quarter. M&T Bank Corp’s holdings in Piper Sandler Companies were worth $269,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PIPR. Blue Trust Inc. raised its holdings in shares of Piper Sandler Companies by 194.7% in the 2nd quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC increased its position in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after buying an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies in the third quarter valued at $77,000. CWM LLC lifted its position in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the last quarter. Finally, KBC Group NV lifted its position in shares of Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after buying an additional 95 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $292.63 on Friday. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The stock has a market cap of $5.20 billion, a PE ratio of 31.26 and a beta of 1.43. The stock has a fifty day moving average of $330.59 and a 200-day moving average of $306.23.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. On average, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

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.