Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 867 Shares of Piper Sandler Companies (NYSE:PIPR)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 33.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,433 shares of the financial services provider’s stock after purchasing an additional 867 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Piper Sandler Companies were worth $850,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its holdings in Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock worth $226,000 after acquiring an additional 37 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Piper Sandler Companies by 28.6% during the first 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 in the last quarter. Lido Advisors LLC increased its holdings in Piper Sandler Companies by 1.2% during the fourth quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock valued at $1,255,000 after buying an additional 49 shares during the period. M&T Bank Corp increased its holdings in Piper Sandler Companies by 6.6% during the first quarter. M&T Bank Corp now owns 874 shares of the financial services provider’s stock valued at $217,000 after buying an additional 54 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in Piper Sandler Companies by 4.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock worth $418,000 after buying an additional 56 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Trading Down 1.2%

PIPR stock opened at $311.39 on Friday. The business’s 50 day moving average is $281.77. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $351.80. The firm has a market capitalization of $5.53 billion, a PE ratio of 27.22 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping the consensus estimate 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 business 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 earned $2.79 earnings per share. The business’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, equities analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 29th will be given a dividend of $0.70 per share. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.65. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. Piper Sandler Companies’s payout ratio is presently 22.73%.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent analyst reports. Wolfe Research upgraded shares of Piper Sandler Companies from a “peer perform” rating to an “outperform” rating and set a $339.00 target price for the company in a research note on Thursday, July 10th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, May 5th.

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.