M&T Bank Corp Has $217,000 Stock Position in Piper Sandler Companies (NYSE:PIPR)

M&T Bank Corp boosted its stake in Piper Sandler Companies (NYSE:PIPR) by 6.6% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 874 shares of the financial services provider’s stock after buying an additional 54 shares during the period. M&T Bank Corp’s holdings in Piper Sandler Companies were worth $217,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quadrant Capital Group LLC grew its stake in Piper Sandler Companies by 5.2% in the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after buying an additional 37 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Piper Sandler Companies by 28.6% in the 1st quarter. Parallel Advisors LLC now owns 216 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 48 shares during the period. Lido Advisors LLC boosted its holdings in Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock valued at $1,255,000 after purchasing an additional 49 shares during the period. Mercer Global Advisors Inc. ADV boosted its holdings in Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 56 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in Piper Sandler Companies by 131.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 109 shares of the financial services provider’s stock valued at $27,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of Piper Sandler Companies stock opened at $312.64 on Friday. The stock’s 50 day moving average price is $271.06. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The company has a market cap of $5.56 billion, a P/E ratio of 27.33 and a beta of 1.48.

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 for the quarter, topping analysts’ consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company had revenue of $357.27 million during the quarter, compared to the consensus estimate of $366.99 million. During the same quarter in the prior year, the firm posted $2.79 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. As a group, equities analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, May 30th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 22.73%.

Analyst Ratings Changes

A number of analysts have issued reports on PIPR shares. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th. Wolfe Research raised shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 price objective for the company in a report on Thursday, July 10th.

About Piper Sandler Companies

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.