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

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

A number of research firms recently commented on PIPR. 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. Wall Street Zen lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Piper Sandler Companies in a report on Wednesday, May 20th. Finally, Zacks Research lowered Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PIPR. M&T Bank Corp lifted its holdings in shares of Piper Sandler Companies by 3.5% in the 2nd quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after acquiring an additional 31 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Piper Sandler Companies by 55.2% during the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after purchasing an additional 32 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares during the period. Public Employees Retirement System of Ohio raised its position in Piper Sandler Companies by 0.4% in the 4th quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock worth $2,754,000 after purchasing an additional 35 shares during the period. Finally, Smartleaf Asset Management LLC lifted its stake in Piper Sandler Companies by 13.4% in the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock worth $93,000 after purchasing an additional 39 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Price Performance

PIPR stock opened at $73.55 on Friday. The firm has a 50 day simple moving average of $78.34 and a two-hundred day simple moving average of $81.48. The stock has a market cap of $5.22 billion, a PE ratio of 18.57, a P/E/G ratio of 1.42 and a beta of 1.42. Piper Sandler Companies has a one year low of $68.70 and a one year high of $95.07.

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

Piper Sandler Companies Increases Dividend

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