Piper Sandler Companies (NYSE:PIPR) Cut to “Hold” at StockNews.com

StockNews.com cut shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a report issued on Tuesday morning.

Several other research firms have also recently weighed in on PIPR. The Goldman Sachs Group cut Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price target on the stock. in a report on Monday. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $297.58 on Tuesday. Piper Sandler Companies has a one year low of $162.50 and a one year high of $351.80. The stock has a 50-day moving average of $308.41 and a 200 day moving average of $310.64. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 31.79 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The firm had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, equities analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.87%. Piper Sandler Companies’s payout ratio is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds have recently modified their holdings of PIPR. USA Financial Formulas bought a new position in shares of Piper Sandler Companies in the third quarter worth approximately $77,000. GAMMA Investing LLC lifted its position in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. CWM LLC grew its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares in the last quarter. KBC Group NV raised its stake in Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares during the period. Finally, Blue Trust Inc. lifted its holdings in Piper Sandler Companies by 486.6% in the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 545 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.