Piper Sandler Companies (NYSE:PIPR) Stock Price Down 2.8% – Should You Sell?

Piper Sandler Companies (NYSE:PIPR)’s stock price was down 2.8% on Tuesday . The company traded as low as $310.96 and last traded at $312.19. Approximately 94,825 shares traded hands during mid-day trading, an increase of 17% from the average daily volume of 80,976 shares. The stock had previously closed at $321.34.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent analyst reports. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Piper Sandler Companies Price Performance

The business has a 50-day moving average of $333.27 and a 200 day moving average of $305.14. The company has a market cap of $5.55 billion, a PE ratio of 33.35 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The business had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. On average, equities analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.83%. Piper Sandler Companies’s payout ratio is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds have recently modified their holdings of the business. Cerity Partners LLC raised its holdings in Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after purchasing an additional 2,819 shares during the period. Charles Schwab Investment Management Inc. increased its position in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Piper Sandler Companies in the third quarter worth about $624,000. Citigroup Inc. lifted its position in shares of Piper Sandler Companies by 63.4% during the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock valued at $6,101,000 after buying an additional 8,337 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake in shares of Piper Sandler Companies by 22.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,213 shares of the financial services provider’s stock valued at $2,615,000 after acquiring an additional 1,681 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.