Piper Sandler Companies (NYSE:PIPR) Given Consensus Recommendation of “Hold” by Analysts

Piper Sandler Companies (NYSE:PIPR) has been given an average rating of “Hold” by the six brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $95.0625.

Several brokerages have recently weighed in on PIPR. Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 target price on the stock in a research note on Wednesday, March 4th. Wall Street Zen downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research downgraded shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. 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. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd.

Piper Sandler Companies Trading Down 2.0%

Shares of PIPR opened at $78.91 on Friday. Piper Sandler Companies has a twelve month low of $61.01 and a twelve month high of $95.07. The company has a market cap of $5.61 billion, a P/E ratio of 19.93, a P/E/G ratio of 1.62 and a beta of 1.47. The company’s fifty day simple moving average is $79.86 and its 200-day simple moving average is $83.17.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results 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 business had revenue of $469.54 million for the quarter, compared to the consensus estimate of $436.30 million. During the same quarter in the prior year, the firm posted $4.09 earnings per share. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. Analysts predict that Piper Sandler Companies will post 4.57 earnings per share for the current fiscal year.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $0.80 annualized dividend and a yield of 1.0%. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.18. Piper Sandler Companies’s payout ratio is 17.68%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its stake 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 buying an additional 35 shares during the period. Aster Capital Management DIFC Ltd increased its stake in Piper Sandler Companies by 1,440.0% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock worth $26,000 after buying an additional 72 shares during the period. Los Angeles Capital Management LLC purchased a new position in Piper Sandler Companies in the 4th quarter worth about $28,000. Whittier Trust Co. purchased a new position in Piper Sandler Companies in the 3rd quarter worth about $31,000. Finally, UMB Bank n.a. increased its stake in Piper Sandler Companies by 55.2% in the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after buying an additional 32 shares during the period. Hedge funds and other institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

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.