M&T Bank Corp Sells 78 Shares of Piper Sandler Companies (NYSE:PIPR)

M&T Bank Corp decreased its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Bank of Montreal Can lifted its stake in Piper Sandler Companies by 2.1% during the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% during the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after buying an additional 48 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after buying an additional 54 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares in the last quarter. Finally, CWM LLC grew its position in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $292.63 on Friday. The business has a 50-day moving average of $330.59 and a 200 day moving average of $306.23. Piper Sandler Companies has a 1-year low of $162.50 and a 1-year high of $351.80. The stock has a market capitalization of $5.20 billion, a PE ratio of 31.26 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data 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 firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Analysts anticipate that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

About Piper Sandler Companies

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.