Cibc World Markets Corp Makes New $487,000 Investment in Piper Sandler Companies (NYSE:PIPR)

Cibc World Markets Corp purchased a new stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,624 shares of the financial services provider's stock, valued at approximately $487,000.

Several other institutional investors have also added to or reduced their stakes in PIPR. IFP Advisors Inc raised its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares in the last quarter. West Oak Capital LLC increased its position in shares of Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after buying an additional 1,300 shares during the period. Allworth Financial LP increased its position in shares of Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after buying an additional 160 shares during the period. GAMMA Investing LLC raised its stake in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after buying an additional 60 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in 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 worth $94,000 after buying an additional 242 shares during the period. Hedge funds and other institutional investors own 72.79% of the company's stock.

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Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PIPR. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, The Goldman Sachs Group lowered their target price on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR traded up $0.13 during midday trading on Tuesday, hitting $268.70. 72,100 shares of the stock traded hands, compared to its average volume of 105,883. The firm has a market capitalization of $4.76 billion, a P/E ratio of 26.29 and a beta of 1.46. Piper Sandler Companies has a one year low of $183.58 and a one year high of $351.80. The firm has a 50-day moving average of $267.95 and a two-hundred day moving average of $291.67.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping 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 period last year, the business posted $4.03 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.97%. Piper Sandler Companies's payout ratio is presently 25.44%.

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.