Piper Sandler Companies (NYSE:PIPR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Piper Sandler Companies (NYSE:PIPR) from a buy rating to a hold rating in a research note released on Saturday morning.

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Down 1.6 %

NYSE:PIPR opened at $301.10 on Friday. The firm has a 50-day moving average price of $322.06. The stock has a market cap of $5.35 billion, a PE ratio of 32.17 and a beta of 1.43. Piper Sandler Companies has a 1-year low of $162.50 and a 1-year high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.86%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its holdings in shares of Piper Sandler Companies by 75.7% during the third quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 2,629 shares during the last quarter. Arete Wealth Advisors LLC acquired a new position in Piper Sandler Companies during the 3rd quarter valued at approximately $310,000. Coldstream Capital Management Inc. grew its stake in Piper Sandler Companies by 2.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares during the last quarter. Geode Capital Management LLC increased its position in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares during the period. Finally, Vestcor Inc boosted its holdings in shares of Piper Sandler Companies by 23.5% during the third quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 863 shares during the period. Institutional investors and hedge funds 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.