Piper Sandler Companies $PIPR Stake Boosted by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC increased its position in shares of Piper Sandler Companies (NYSE:PIPR) by 13.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 93,893 shares of the company’s stock after purchasing an additional 11,033 shares during the period. TimesSquare Capital Management LLC’s holdings in Piper Sandler Companies were worth $31,896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in PIPR. M&T Bank Corp lifted its stake in Piper Sandler Companies by 3.5% in the second quarter. M&T Bank Corp now owns 905 shares of the company’s stock valued at $251,000 after buying an additional 31 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Piper Sandler Companies by 13.4% in the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock valued at $93,000 after buying an additional 39 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Piper Sandler Companies by 0.4% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,944 shares of the company’s stock valued at $4,062,000 after buying an additional 42 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Piper Sandler Companies by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,801 shares of the company’s stock valued at $1,291,000 after buying an additional 44 shares during the last quarter. Finally, Choreo LLC lifted its stake in Piper Sandler Companies by 4.2% in the third quarter. Choreo LLC now owns 1,125 shares of the company’s stock valued at $390,000 after buying an additional 45 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PIPR has been the topic of a number of recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 target price on the stock in a research note on Wednesday, March 4th. Bank of America initiated coverage on Piper Sandler Companies in a research note on Monday, January 26th. They issued an “underperform” rating and a $96.25 target price on the stock. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $97.00 target price on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $95.06.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $79.07 on Tuesday. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.58 and a beta of 1.47. Piper Sandler Companies has a one year low of $61.01 and a one year high of $95.07. The stock’s fifty day moving average is $79.94 and its 200-day moving average is $83.13.

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

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.0%. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Friday, May 29th. Piper Sandler Companies’s dividend payout ratio is 17.68%.

Piper Sandler Companies 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.