Hsbc Holdings PLC Reduces Holdings in Piper Sandler Companies $PIPR

Hsbc Holdings PLC reduced its stake in shares of Piper Sandler Companies (NYSE:PIPR) by 72.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,071 shares of the company’s stock after selling 8,099 shares during the quarter. Hsbc Holdings PLC’s holdings in Piper Sandler Companies were worth $1,044,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. M&T Bank Corp grew its holdings in shares of Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after purchasing an additional 31 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Piper Sandler Companies by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock valued at $2,754,000 after purchasing an additional 35 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in Piper Sandler Companies by 13.4% during the 2nd quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock worth $93,000 after buying an additional 39 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PIPR. Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Wall Street Zen lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $97.00 target price on shares of Piper Sandler Companies in a report on Tuesday, April 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $95.06.

Piper Sandler Companies Trading Down 0.1%

NYSE:PIPR opened at $72.06 on Tuesday. The firm has a market cap of $5.12 billion, a P/E ratio of 18.20, a PEG ratio of 1.45 and a beta of 1.42. The stock’s 50 day simple moving average is $77.75 and its 200-day simple moving average is $81.20. Piper Sandler Companies has a 12-month low of $68.70 and a 12-month high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The firm had revenue of $469.54 million during the quarter, compared to the consensus estimate of $436.30 million. During the same period last year, the company earned $4.09 earnings per share. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. Research analysts forecast that Piper Sandler Companies will post 4.57 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Friday, May 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.17. Piper Sandler Companies’s payout ratio is currently 20.20%.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.