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

Truist Financial Corp grew its holdings in shares of Piper Sandler Companies (NYSE:PIPR) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,203 shares of the financial services provider’s stock after buying an additional 1,049 shares during the quarter. Truist Financial Corp’s holdings in Piper Sandler Companies were worth $7,260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PIPR. Coldstream Capital Management Inc. grew its holdings in Piper Sandler Companies by 2.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after purchasing an additional 41 shares during the last quarter. Harbor Capital Advisors Inc. grew its holdings in Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after purchasing an additional 56 shares during the last quarter. CWM LLC grew its holdings in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares during the last quarter. OneDigital Investment Advisors LLC grew its holdings in Piper Sandler Companies by 2.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 2,176 shares of the financial services provider’s stock valued at $618,000 after purchasing an additional 58 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $287.97 on Friday. The company has a market capitalization of $5.12 billion, a P/E ratio of 28.18 and a beta of 1.46. The company’s 50-day simple moving average is $308.16 and its two-hundred day simple moving average is $313.31. Piper Sandler Companies has a one year low of $183.25 and a one year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the company posted $4.03 EPS. On average, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed 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 is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Analysts Set New Price Targets

Several equities analysts recently commented on PIPR shares. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. The Goldman Sachs Group upped 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. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

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.