Piper Sandler Companies (NYSE:PIPR) Given Average Rating of “Hold” by Brokerages

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

A number of equities analysts have recently issued reports on PIPR shares. Wall Street Zen downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $97.00 price objective on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. 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.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd bought a new position in Piper Sandler Companies in the first quarter worth about $1,535,000. Sterling Capital Management LLC grew its position 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 worth $35,000 after buying an additional 338 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of Piper Sandler Companies by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock worth $118,000 after acquiring an additional 144 shares in the last quarter. Corient Private Wealth LLC lifted its position in Piper Sandler Companies by 16.7% during the fourth quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock valued at $408,000 after acquiring an additional 172 shares during the last quarter. Finally, Bayban acquired a new stake in Piper Sandler Companies in the fourth quarter valued at approximately $707,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $71.01 on Friday. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.43 and a beta of 1.42. The stock has a 50 day moving average price of $79.50 and a 200 day moving average price of $81.90. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07.

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

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.20 per share. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.80 annualized dividend and a yield of 1.1%. Piper Sandler Companies’s payout ratio is 20.20%.

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.