US Bancorp DE Sells 1,492 Shares of Piper Sandler Companies (NYSE:PIPR)

US Bancorp DE decreased its stake in shares of Piper Sandler Companies (NYSE:PIPR - Free Report) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,011 shares of the financial services provider's stock after selling 1,492 shares during the period. US Bancorp DE's holdings in Piper Sandler Companies were worth $1,803,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Cerity Partners LLC boosted its position in shares of Piper Sandler Companies by 21.3% during the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock valued at $4,558,000 after buying an additional 2,819 shares during the last quarter. Barclays PLC boosted its position in shares of Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock valued at $9,174,000 after buying an additional 24,388 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock valued at $58,245,000 after buying an additional 2,689 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Piper Sandler Companies during the third quarter valued at approximately $624,000. Finally, Citigroup Inc. boosted its position in Piper Sandler Companies by 63.4% in the third quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider's stock worth $6,101,000 after purchasing an additional 8,337 shares during the last quarter. Hedge funds and other institutional investors own 72.79% of the company's stock.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. StockNews.com cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group boosted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a "neutral" rating in a research report on Monday, February 3rd.

Piper Sandler Companies Stock Down 1.0 %

PIPR stock traded down $2.44 during midday trading on Friday, hitting $253.70. The company's stock had a trading volume of 168,700 shares, compared to its average volume of 103,854. The stock's 50-day moving average price is $293.96 and its 200 day moving average price is $303.65. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 24.82 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) 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 period last year, the firm earned $4.03 EPS. As a group, equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.02%. Piper Sandler Companies's payout ratio is presently 25.44%.

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.