Bank of America Corp DE Decreases Stock Position in Piper Sandler Companies (NYSE:PIPR)

Bank of America Corp DE lowered its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 31.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 26,247 shares of the financial services provider’s stock after selling 11,830 shares during the period. Bank of America Corp DE owned 0.15% of Piper Sandler Companies worth $7,873,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Barclays PLC increased its stake in shares of Piper Sandler Companies by 307.2% during the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after acquiring an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 242 shares during the period. IFP Advisors Inc increased its position in shares of Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. Arizona State Retirement System raised its position in shares of Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after purchasing an additional 40 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Piper Sandler Companies during the 4th quarter worth $8,097,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. The Goldman Sachs Group lowered their price target on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $250.12 on Monday. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80. The firm has a market capitalization of $4.44 billion, a P/E ratio of 24.47 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, topping analysts’ consensus estimates of $2.85 by $1.24. The firm had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the company posted $2.79 EPS. Research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. Piper Sandler Companies’s payout ratio is 22.73%.

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.