Canandaigua National Bank & Trust Co. Acquires New Holdings in Piper Sandler Companies (NYSE:PIPR)

Canandaigua National Bank & Trust Co. bought a new stake in Piper Sandler Companies (NYSE:PIPR) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 907 shares of the financial services provider’s stock, valued at approximately $209,000.

Several other large investors have also recently bought and sold shares of the stock. TFO Wealth Partners LLC grew its holdings in Piper Sandler Companies by 172,500.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,726 shares of the financial services provider’s stock worth $302,000 after acquiring an additional 1,725 shares during the period. 1492 Capital Management LLC raised its holdings in shares of Piper Sandler Companies by 1.1% in the 4th quarter. 1492 Capital Management LLC now owns 6,399 shares of the financial services provider’s stock worth $1,119,000 after purchasing an additional 68 shares in the last quarter. Vanguard Group Inc. lifted its stake in Piper Sandler Companies by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 1,950,310 shares of the financial services provider’s stock valued at $341,051,000 after purchasing an additional 15,075 shares during the last quarter. Oliver Luxxe Assets LLC boosted its holdings in Piper Sandler Companies by 40.2% during the fourth quarter. Oliver Luxxe Assets LLC now owns 5,892 shares of the financial services provider’s stock worth $1,030,000 after buying an additional 1,689 shares in the last quarter. Finally, Truist Financial Corp grew its position in Piper Sandler Companies by 3.7% in the fourth quarter. Truist Financial Corp now owns 27,772 shares of the financial services provider’s stock worth $4,856,000 after buying an additional 999 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Insider Buying and Selling

In other news, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the sale, the insider now directly owns 160,095 shares in the company, valued at approximately $37,883,279.85. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now directly owns 160,095 shares of the company’s stock, valued at $37,883,279.85. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the transaction, the general counsel now owns 15,065 shares in the company, valued at approximately $3,867,637.45. The disclosure for this sale can be found here. Insiders sold 19,484 shares of company stock valued at $4,525,759 over the last quarter. 3.00% of the stock is owned by company insiders.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded up $3.69 during midday trading on Friday, reaching $258.79. The stock had a trading volume of 164,700 shares, compared to its average volume of 190,949. The firm’s fifty day simple moving average is $254.80 and its two-hundred day simple moving average is $227.88. Piper Sandler Companies has a twelve month low of $130.89 and a twelve month high of $280.45. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 44.01 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.54%. The business’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.13 EPS. As a group, sell-side analysts predict that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Thursday, August 29th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.00%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 29th. Piper Sandler Companies’s dividend payout ratio is presently 40.82%.

Wall Street Analyst Weigh In

Separately, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, June 11th.

Piper Sandler Companies Company 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.