Piper Sandler Companies (NYSE:PIPR) Sees Strong Trading Volume - Still a Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 89,657 shares traded hands during trading, a decline of 35% from the previous session's volume of 137,557 shares.The stock last traded at $281.86 and had previously closed at $281.82.

Analyst Upgrades and Downgrades

PIPR has been the subject of several recent research reports. The Goldman Sachs Group cut their price target on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a report on Friday, March 14th. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Stock Performance

The company's 50 day simple moving average is $259.23. The firm has a market cap of $5.21 billion, a P/E ratio of 25.65 and a beta of 1.48.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.85 by $1.24. The firm had revenue of $357.27 million during the quarter, compared to analyst estimates of $366.99 million. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The company's quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.79 earnings per share. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 13th. Investors of record on Friday, May 30th were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 22.73%.

Institutional Trading of Piper Sandler Companies

Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of Piper Sandler Companies by 1.4% during the first quarter. Oppenheimer Asset Management Inc. now owns 6,704 shares of the financial services provider's stock valued at $1,660,000 after acquiring an additional 93 shares during the period. Smartleaf Asset Management LLC lifted its holdings in Piper Sandler Companies by 336.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 242 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in Piper Sandler Companies by 11.6% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,015 shares of the financial services provider's stock valued at $499,000 after buying an additional 210 shares in the last quarter. IFP Advisors Inc boosted its position in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after buying an additional 131 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Piper Sandler Companies by 11.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,742 shares of the financial services provider's stock worth $2,908,000 after buying an additional 1,249 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors.

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.