Piper Sandler Companies (NYSE:PIPR) Cut to “Hold” at StockNews.com

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

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 %

Piper Sandler Companies stock opened at $301.10 on Friday. The stock’s 50-day moving average price is $322.06. The firm has a market capitalization of $5.35 billion, a PE ratio of 32.17 and a beta of 1.43. Piper Sandler Companies has a 12-month low of $162.50 and a 12-month high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results 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. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. The firm had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Research analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

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

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp raised its stake in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC raised its holdings in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after buying an additional 205,584 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Piper Sandler Companies by 1.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after purchasing an additional 2,689 shares during the period. Finally, Systematic Financial Management LP raised its position in Piper Sandler Companies by 3.4% in the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after purchasing an additional 6,507 shares during the period. 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.