Piper Sandler Companies (NYSE:PIPR) Receives Average Recommendation of “Hold” from Analysts

Piper Sandler Companies (NYSE:PIPR) has been given a consensus recommendation of “Hold” by the six brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $95.0625.

Several research analysts recently weighed in on PIPR shares. The Goldman Sachs Group reissued a “buy” rating and issued a $97.00 target price on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. 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 report on Wednesday, March 4th. Wall Street Zen lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Wednesday, May 20th.

Piper Sandler Companies Stock Performance

PIPR stock traded up $0.92 on Wednesday, reaching $81.89. The company had a trading volume of 5,770 shares, compared to its average volume of 654,306. Piper Sandler Companies has a 1 year low of $63.01 and a 1 year high of $95.07. The company’s fifty day moving average is $81.87 and its 200 day moving average is $82.58. The company has a market cap of $5.82 billion, a P/E ratio of 20.71, a PEG ratio of 1.60 and a beta of 1.41.

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

Piper Sandler Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.20 dividend. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.18. The ex-dividend date was Friday, May 29th. This represents a $0.80 annualized dividend and a yield of 1.0%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 20.20%.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently modified their holdings of PIPR. M&T Bank Corp raised its stake in Piper Sandler Companies by 3.5% during the second quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after purchasing an additional 31 shares during the period. UMB Bank n.a. raised its position in shares of 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. EverSource Wealth Advisors LLC boosted its holdings 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. Public Employees Retirement System of Ohio boosted its holdings in Piper Sandler Companies by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock valued at $2,754,000 after acquiring an additional 35 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Piper Sandler Companies by 13.4% during the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock valued at $93,000 after acquiring an additional 39 shares during the period. 72.79% of the stock is owned by institutional investors and hedge funds.

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.