Bank of New York Mellon Corp Purchases 992 Shares of Piper Sandler Companies (NYSE:PIPR)

Bank of New York Mellon Corp boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 0.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,751 shares of the financial services provider’s stock after acquiring an additional 992 shares during the period. Bank of New York Mellon Corp owned 0.88% of Piper Sandler Companies worth $38,821,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in Piper Sandler Companies by 131.9% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 62 shares in the last quarter. von Borstel & Associates Inc. bought a new stake in Piper Sandler Companies in the first quarter valued at $27,000. Park Square Financial Group LLC bought a new stake in Piper Sandler Companies in the fourth quarter valued at $45,000. Lazard Asset Management LLC bought a new stake in Piper Sandler Companies in the fourth quarter valued at $51,000. Finally, Parallel Advisors LLC boosted its holdings in Piper Sandler Companies by 28.6% in the first quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 48 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $305.47 on Tuesday. The stock has a 50-day simple moving average of $265.33. The company has a market cap of $5.43 billion, a price-to-earnings ratio of 26.70 and a beta of 1.48. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $1.24. The company had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. Piper Sandler Companies’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $2.79 EPS. Equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.85%. The ex-dividend date was Friday, May 30th. Piper Sandler Companies’s dividend payout ratio is presently 22.73%.

Analysts Set New Price Targets

Several research firms recently weighed in on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Wolfe Research upgraded shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price target for the company in a research note on Thursday, July 10th.

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.