Piper Sandler Companies (NYSE:PIPR) Receives Average Recommendation of “Hold” from Analysts

Piper Sandler Companies (NYSE:PIPR) has earned an average recommendation of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $95.0625.

PIPR has been the subject of several research reports. Wall Street Zen cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Wolfe Research reaffirmed an “outperform” rating and set a $99.50 price objective on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Bank of America initiated coverage on shares of Piper Sandler Companies in a research note on Monday, January 26th. They set an “underperform” rating and a $96.25 price objective for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd.

Insider Buying and Selling at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 20,960 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total value of $1,839,187.60. Following the completion of the sale, the president owned 11,584 shares of the company’s stock, valued at $1,016,467.04. This represents a 64.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its stake in shares of Piper Sandler Companies by 296.5% in the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company’s stock valued at $35,000 after buying an additional 338 shares during the period. Rockefeller Capital Management L.P. grew its stake in shares of Piper Sandler Companies by 71.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock valued at $118,000 after buying an additional 144 shares during the period. Corient Private Wealth LLC grew its stake in shares of Piper Sandler Companies by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock valued at $408,000 after buying an additional 172 shares during the period. Bayban purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at approximately $707,000. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of Piper Sandler Companies by 544.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company’s stock valued at $59,000 after buying an additional 147 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Trading Down 1.1%

Shares of NYSE PIPR opened at $86.83 on Tuesday. Piper Sandler Companies has a 12-month low of $58.14 and a 12-month high of $95.07. The stock has a market cap of $6.19 billion, a PE ratio of 21.97, a P/E/G ratio of 1.77 and a beta of 1.48. The company has a 50-day moving average of $78.77 and a 200 day moving average of $83.33.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The company had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same quarter in the prior year, the company earned $1.20 EPS. Piper Sandler Companies’s revenue was up 27.4% compared to the same quarter last year. On average, sell-side analysts forecast that Piper Sandler Companies will post 4.68 EPS for the current fiscal year.

Piper Sandler Companies Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a $0.175 dividend. The ex-dividend date of this dividend was Tuesday, March 3rd. This represents a $0.70 annualized dividend and a dividend yield of 0.8%. Piper Sandler Companies’s dividend payout ratio is 17.72%.

Piper Sandler Companies Company 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.