Piper Sandler Companies (NYSE:PIPR) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $301.10 on Friday. Piper Sandler Companies has a 1 year low of $162.50 and a 1 year high of $351.80. The firm has a 50-day moving average of $322.06 and a 200 day moving average of $309.05. The stock has a market cap of $5.35 billion, a P/E ratio of 32.17 and a beta of 1.43.

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

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.86%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. nVerses Capital LLC increased its holdings in shares of Piper Sandler Companies by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Piper Sandler Companies during the third quarter valued at $77,000. CWM LLC increased its holdings in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares in the last quarter. KBC Group NV raised its position in Piper Sandler Companies by 20.9% in the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 545 shares during the period. 72.79% of the stock is owned by institutional investors.

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.