Zurcher Kantonalbank Zurich Cantonalbank Buys 577 Shares of Piper Sandler Companies (NYSE:PIPR)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 20.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,389 shares of the financial services provider’s stock after purchasing an additional 577 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Piper Sandler Companies were worth $1,017,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PIPR. FMR LLC boosted its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after acquiring an additional 205,584 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Piper Sandler Companies in the 3rd quarter worth $14,645,000. Proficio Capital Partners LLC acquired a new stake in Piper Sandler Companies in the 4th quarter valued at $8,097,000. Raymond James Financial Inc. bought a new stake in Piper Sandler Companies during the 4th quarter valued at $7,464,000. Finally, Barclays PLC raised its holdings in Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock worth $9,174,000 after buying an additional 24,388 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group decreased their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

PIPR opened at $257.90 on Thursday. Piper Sandler Companies has a fifty-two week low of $183.58 and a fifty-two week high of $351.80. The company’s 50-day moving average is $274.68 and its 200 day moving average is $294.92. The firm has a market capitalization of $4.57 billion, a P/E ratio of 25.23 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 period in the prior year, the firm posted $4.03 EPS. On average, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

Piper Sandler Companies 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.