Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month Low – Should You Sell?

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week low during trading on Wednesday. The stock traded as low as $62.83 and last traded at $63.0090, with a volume of 49736 shares changing hands. The stock had previously closed at $65.66.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings reissued a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. The Goldman Sachs Group set a $80.00 price objective on shares of Piper Sandler Companies and gave the company a “buy” rating in a report on Thursday, October 1st. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.81.

Piper Sandler Companies Trading Down 2.8%

The business has a 50-day moving average price of $73.71 and a 200 day moving average price of $77.17. The stock has a market capitalization of $4.51 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.52 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Thursday, July 30th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.16. Piper Sandler Companies had a net margin of 14.51% and a return on equity of 21.92%. The company had revenue of $491.14 million for the quarter, compared to analysts’ expectations of $445.28 million. During the same quarter in the previous year, the business posted $2.92 earnings per share. Piper Sandler Companies’s quarterly revenue was up 24.9% on a year-over-year basis. On average, sell-side analysts predict that Piper Sandler Companies will post 4.51 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 11th. Investors of record on Friday, August 28th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.3%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 18.52%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its stake in shares of Piper Sandler Companies by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock valued at $41,466,000 after purchasing an additional 2,967 shares during the last quarter. Greenwich Wealth Management LLC increased its position in shares of Piper Sandler Companies by 1.0% during the 2nd quarter. Greenwich Wealth Management LLC now owns 420,805 shares of the company’s stock valued at $30,441,000 after purchasing an additional 4,036 shares during the last quarter. Wellington Management Group LLP purchased a new stake in Piper Sandler Companies during the 2nd quarter valued at $13,753,000. WINTON GROUP Ltd purchased a new stake in Piper Sandler Companies during the 2nd quarter valued at $9,445,000. Finally, Fiera Capital Corp lifted its position in Piper Sandler Companies by 32.4% in the fourth quarter. Fiera Capital Corp now owns 108,167 shares of the company’s stock worth $36,745,000 after buying an additional 26,500 shares during the last quarter. 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 a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.