Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Piper Sandler Companies (NYSE:PIPR)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 20.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. Arizona State Retirement System grew its position in Piper Sandler Companies by 0.8% during the fourth quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Piper Sandler Companies by 2.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 41 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in shares of Piper Sandler Companies by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock valued at $618,000 after acquiring an additional 58 shares during the period. GAMMA Investing LLC increased its stake in shares of Piper Sandler Companies by 27.6% in the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after purchasing an additional 60 shares in the last quarter. Finally, MML Investors Services LLC raised its holdings in Piper Sandler Companies by 4.3% in the 3rd quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock worth $508,000 after purchasing an additional 74 shares during the period. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $257.90 on Thursday. The stock has a fifty day simple moving average of $274.68 and a two-hundred day simple moving average of $294.92. The firm has a market capitalization of $4.57 billion, a PE ratio of 25.23 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company earned $4.03 earnings per share. On average, sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Wall Street Analyst Weigh In

PIPR has been the subject of a number of analyst reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, The Goldman Sachs Group decreased their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research note on Friday, March 14th.

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.