Piper Sandler Companies (NYSE:PIPR) Given Average Rating of "Hold" by Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Piper Sandler Companies, with one sell, two hold, and three buy recommendations. The average 12-month price target is $95.06, above the stock’s recent $73.61 price.
• Piper Sandler reported stronger-than-expected quarterly results, including $1.00 in EPS versus an $0.85 consensus estimate and $469.54 million in revenue, up 32.7% year over year.
• The company increased its quarterly dividend to $0.20 per share, or $0.80 annually, resulting in a 1.1% yield. Institutional investors own 72.79% of the stock.

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) have received an average recommendation of "Hold" from the six brokerages that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $95.0625.

A number of research firms recently weighed in on PIPR. Wall Street Zen cut Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. The Goldman Sachs Group reissued a "buy" rating and issued a $97.00 price objective on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Piper Sandler Companies in a report on Wednesday, May 20th. Finally, Zacks Research cut shares of Piper Sandler Companies from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in the company. M&T Bank Corp increased its position in Piper Sandler Companies by 3.5% during the 2nd quarter. M&T Bank Corp now owns 905 shares of the company's stock worth $251,000 after buying an additional 31 shares during the period. UMB Bank n.a. lifted its holdings in shares of Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company's stock worth $31,000 after buying an additional 32 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Piper Sandler Companies by 89.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company's stock valued at $25,000 after acquiring an additional 35 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Piper Sandler Companies by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company's stock valued at $2,754,000 after acquiring an additional 35 shares during the period. Finally, Smartleaf Asset Management LLC grew its stake in shares of Piper Sandler Companies by 13.4% in the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company's stock valued at $93,000 after acquiring an additional 39 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $73.61 on Thursday. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07. The stock has a market cap of $5.23 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 1.59 and a beta of 1.42. The firm's 50-day moving average is $76.88 and its 200-day moving average is $80.36.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The firm had revenue of $469.54 million for the quarter, compared to the consensus estimate of $436.30 million. During the same quarter in the previous year, the business earned $4.09 earnings per share. The business's revenue was up 32.7% compared to the same quarter last year. Sell-side analysts predict that Piper Sandler Companies will post 4.56 EPS for the current fiscal year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Piper Sandler Companies's previous quarterly dividend of $0.17. The ex-dividend date was Friday, May 29th. Piper Sandler Companies's dividend payout ratio is 20.20%.

Piper Sandler Companies Company Profile

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.

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