Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year Low – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week low during mid-day trading on Wednesday. The company traded as low as $62.83 and last traded at $63.0090, with a volume of 49736 shares traded. The stock had previously closed at $65.66.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. The Goldman Sachs Group set a $80.00 price objective on Piper Sandler Companies and gave the company a “buy” rating in a research report on Thursday, October 1st. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $90.81.

Piper Sandler Companies Trading Up 1.0%

The firm’s fifty day moving average price is $73.27 and its 200-day moving average price is $77.03. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 1.47 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.16. The business had revenue of $491.14 million during the quarter, compared to analysts’ expectations of $445.28 million. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.Piper Sandler Companies’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned $2.92 EPS. As a group, research analysts anticipate that Piper Sandler Companies will post 4.51 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 28th. Piper Sandler Companies’s dividend payout ratio is 18.52%.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Piper Sandler Companies by 17.6% during the 3rd quarter. GAMMA Investing LLC now owns 2,201 shares of the company’s stock worth $145,000 after buying an additional 330 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Piper Sandler Companies by 11.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 9,361 shares of the company’s stock valued at $618,000 after acquiring an additional 925 shares during the last quarter. Greenwich Wealth Management LLC boosted its stake in shares of Piper Sandler Companies by 1.0% during the second quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company’s stock valued at $30,441,000 after purchasing an additional 4,036 shares in the last quarter. QRG Capital Management Inc. bought a new position in Piper Sandler Companies in the 2nd quarter valued at approximately $280,000. Finally, Envestnet Portfolio Solutions Inc. acquired a new stake in Piper Sandler Companies during the 2nd quarter worth approximately $776,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE:PIPR) is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.