Truist Financial Corp Increases Stake in Piper Sandler Companies (NYSE:PIPR)

Truist Financial Corp lifted its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 4.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,203 shares of the financial services provider’s stock after acquiring an additional 1,049 shares during the period. Truist Financial Corp owned 0.14% of Piper Sandler Companies worth $7,260,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. CWM LLC raised its holdings in Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares during the period. Creative Planning raised its holdings in Piper Sandler Companies by 34.8% in the third quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after buying an additional 2,399 shares during the period. Blue Trust Inc. raised its holdings in Piper Sandler Companies by 486.6% in the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after buying an additional 545 shares during the period. Raymond James & Associates raised its holdings in Piper Sandler Companies by 5.3% in the third quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock valued at $8,323,000 after buying an additional 1,484 shares during the period. Finally, US Bancorp DE raised its holdings in Piper Sandler Companies by 6.7% in the third quarter. US Bancorp DE now owns 7,503 shares of the financial services provider’s stock valued at $2,130,000 after buying an additional 471 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock opened at $287.97 on Friday. Piper Sandler Companies has a 12-month low of $183.25 and a 12-month high of $351.80. The company has a market capitalization of $5.12 billion, a price-to-earnings ratio of 28.18 and a beta of 1.46. The firm’s fifty day moving average price is $308.16 and its 200 day moving average price is $313.31.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter in the prior year, the firm earned $4.03 earnings per share. Analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PIPR shares. The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

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.