Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR) was the target of a large drop in short interest in October. As of October 15th, there was short interest totalling 412,100 shares, a drop of 15.1% from the September 30th total of 485,300 shares. Based on an average daily volume of 114,300 shares, the days-to-cover ratio is currently 3.6 days. Currently, 2.4% of the company’s stock are sold short.

Piper Sandler Companies Trading Down 3.1 %

Shares of PIPR stock opened at $280.53 on Monday. Piper Sandler Companies has a 12 month low of $131.89 and a 12 month high of $306.10. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.71 and a beta of 1.39. The stock’s 50 day simple moving average is $289.47.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. On average, equities analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Thursday, August 29th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, August 29th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.60. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 44.22%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the transaction, the director now directly owns 18,341 shares of the company’s stock, valued at $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Jonathan J. Doyle sold 12,695 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $236.63, for a total value of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now directly owns 18,341 shares of the company’s stock, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,276 shares of company stock worth $3,936,252. 3.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of Piper Sandler Companies in the 1st quarter worth approximately $298,000. Allspring Global Investments Holdings LLC boosted its stake in Piper Sandler Companies by 16.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 59,458 shares of the financial services provider’s stock worth $11,802,000 after buying an additional 8,510 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Piper Sandler Companies by 14.6% in the 1st quarter. BNP Paribas Financial Markets now owns 13,951 shares of the financial services provider’s stock valued at $2,769,000 after buying an additional 1,779 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Piper Sandler Companies by 2.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 13,303 shares of the financial services provider’s stock valued at $2,641,000 after buying an additional 307 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Piper Sandler Companies during the 1st quarter worth about $238,000. 72.79% of the stock is owned by institutional investors and hedge funds.

About Piper Sandler Companies

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.