Piper Sandler Companies (NYSE:PIPR) Receives Consensus Recommendation of “Hold” from Brokerages

Piper Sandler Companies (NYSE:PIPR) has earned an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $95.0625.

PIPR has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Wednesday, May 20th. Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 target price on the stock in a research note on Wednesday, March 4th. 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. 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. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $97.00 target price on shares of Piper Sandler Companies in a research note on Tuesday, April 14th.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $79.17 on Wednesday. Piper Sandler Companies has a 52-week low of $62.49 and a 52-week high of $95.07. The company has a 50-day simple moving average of $81.65 and a two-hundred day simple moving average of $82.60. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of 19.99, a PEG ratio of 1.55 and a beta of 1.41.

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

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be paid a $0.20 dividend. The ex-dividend date is Friday, May 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.18. This represents a $0.80 dividend on an annualized basis and a yield of 1.0%. Piper Sandler Companies’s dividend payout ratio is presently 20.20%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its stake in Piper Sandler Companies by 89.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its stake in shares of Piper Sandler Companies by 1,440.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after buying an additional 72 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in Piper Sandler Companies in the 4th quarter worth approximately $28,000. UMB Bank n.a. boosted its holdings in Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after buying an additional 32 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in Piper Sandler Companies by 296.5% in the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company’s stock worth $35,000 after buying an additional 338 shares during the period. 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.