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

M&T Bank Corp lessened its stake in Piper Sandler Companies (NYSE:PIPR) by 7.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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.

Other institutional investors also recently made changes to their positions in the company. FMR LLC grew its position 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 valued at $177,395,000 after acquiring an additional 205,584 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Piper Sandler Companies in the third quarter valued at $14,645,000. Mesirow Institutional Investment Management Inc. acquired a new stake in Piper Sandler Companies during the 2nd quarter valued at $10,139,000. Millennium Management LLC increased its stake in Piper Sandler Companies by 66.0% during the 2nd quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after buying an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP acquired a new position in Piper Sandler Companies in the 2nd quarter worth $5,950,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Piper Sandler Companies Stock Down 1.2 %

Shares of NYSE:PIPR opened at $292.63 on Friday. The company has a market cap of $5.20 billion, a PE ratio of 31.26 and a beta of 1.43. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The firm has a 50-day simple moving average of $330.59 and a 200 day simple moving average of $306.23.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. As a group, research analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

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

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.