Piper Sandler Companies (NYSE:PIPR) Receives $95.06 Average Price Target from Analysts

Piper Sandler Companies (NYSE:PIPR) has been assigned an average rating of “Hold” from the six research firms that are covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $95.0625.

A number of equities research analysts recently issued reports on PIPR shares. The Goldman Sachs Group reiterated a “buy” rating and issued a $97.00 price objective on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Bank of America began coverage on Piper Sandler Companies in a report on Monday, January 26th. They issued an “underperform” rating and a $96.25 price target on the stock. Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price target for the company in a research report on Wednesday, March 4th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Friday, January 23rd. Finally, Zacks Research downgraded shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th.

Piper Sandler Companies Trading Up 2.9%

PIPR stock opened at $79.84 on Friday. The firm has a 50 day moving average of $80.18 and a 200-day moving average of $83.04. The firm has a market capitalization of $5.67 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 1.56 and a beta of 1.47. Piper Sandler Companies has a 12 month low of $61.01 and a 12 month high of $95.07.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.15. Piper Sandler Companies had a net margin of 13.94% and a return on equity of 21.09%. The business had revenue of $469.54 million for the quarter, compared to analysts’ expectations of $436.30 million. During the same period in the prior year, the company posted $4.09 EPS. The business’s revenue for the quarter was up 32.7% compared to the same quarter last year. Sell-side analysts predict that Piper Sandler Companies will post 4.57 EPS for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.0%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.18. The ex-dividend date is Friday, May 29th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 17.68%.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of PIPR. EverSource Wealth Advisors LLC raised its holdings in shares of Piper Sandler Companies by 89.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its stake in shares of Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Piper Sandler Companies during the 4th quarter valued at $28,000. Whittier Trust Co. purchased a new position in Piper Sandler Companies in the 3rd quarter worth $31,000. Finally, UMB Bank n.a. lifted its stake in Piper Sandler Companies by 55.2% in the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.