Piper Sandler Companies (NYSE:PIPR) Coverage Initiated at Bank of America

Research analysts at Bank of America initiated coverage on shares of Piper Sandler Companies (NYSE:PIPR) in a research report issued on Monday, MarketBeat.com reports. The brokerage set an “underperform” rating and a $385.00 price target on the stock. Bank of America‘s price objective indicates a potential upside of 8.90% from the stock’s current price.

Several other research analysts have also recently commented on PIPR. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their price target for the company from $368.00 to $386.00 in a research report on Monday, November 10th. Wolfe Research reissued an “outperform” rating and set a $398.00 price objective on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $389.67.

Piper Sandler Companies Stock Down 0.7%

Piper Sandler Companies stock opened at $353.55 on Monday. The business has a 50 day moving average price of $347.47 and a two-hundred day moving average price of $336.37. Piper Sandler Companies has a 12 month low of $202.91 and a 12 month high of $380.26. The stock has a market cap of $6.25 billion, a price-to-earnings ratio of 26.64 and a beta of 1.54.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 31st. The company reported $3.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.96 by $0.86. Piper Sandler Companies had a net margin of 13.73% and a return on equity of 19.91%. The firm had revenue of $455.31 million during the quarter, compared to the consensus estimate of $408.40 million. During the same period last year, the firm posted $2.57 EPS. The firm’s quarterly revenue was up 33.3% on a year-over-year basis.

Insider Activity

In other news, CFO Katherine Patricia Clune sold 1,367 shares of Piper Sandler Companies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the sale, the chief financial officer directly owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. The trade was a 11.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Debbra L. Schoneman sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the sale, the president directly owned 2,896 shares of the company’s stock, valued at $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 11,267 shares of company stock worth $3,763,746 over the last 90 days. Corporate insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Large investors have recently bought and sold shares of the stock. CENTRAL TRUST Co acquired a new stake in shares of Piper Sandler Companies during the 2nd quarter worth approximately $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Piper Sandler Companies during the 2nd quarter worth $31,000. Whittier Trust Co. purchased a new stake in Piper Sandler Companies in the third quarter valued at $31,000. Danske Bank A S purchased a new position in shares of Piper Sandler Companies during the third quarter worth about $35,000. Finally, Salomon & Ludwin LLC purchased a new stake in Piper Sandler Companies in the 3rd quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

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.