Piper Sandler Companies (NYSE:PIPR) Sees Unusually-High Trading Volume - Here's Why

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 89,657 shares changed 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.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PIPR. The Goldman Sachs Group decreased their price target on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research note on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th.

Piper Sandler Companies Price Performance

The firm has a market cap of $5.07 billion, a PE ratio of 24.93 and a beta of 1.47. The business's fifty day moving average price is $255.61.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, topping analysts' consensus estimates of $2.85 by $1.24. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The business had revenue of $357.27 million during the quarter, compared to analysts' expectations of $366.99 million. During the same period last year, the company posted $2.79 EPS. The company's revenue was up 14.7% on a year-over-year basis. Analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, May 30th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.91%. Piper Sandler Companies's dividend payout ratio (DPR) is 22.73%.

Institutional Trading of Piper Sandler Companies

A number of large investors have recently made changes to their positions in the stock. Norges Bank purchased a new position in Piper Sandler Companies in the 4th quarter valued at about $68,696,000. Nuveen LLC purchased a new position in shares of Piper Sandler Companies during the first quarter valued at approximately $49,826,000. GAMMA Investing LLC boosted its position in Piper Sandler Companies by 39,239.4% during the first quarter. GAMMA Investing LLC now owns 108,970 shares of the financial services provider's stock worth $26,988,000 after acquiring an additional 108,693 shares during the last quarter. Invesco Ltd. grew its stake in Piper Sandler Companies by 17.2% in the 4th quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock worth $209,312,000 after acquiring an additional 102,426 shares during the period. Finally, Westwood Holdings Group Inc. raised its holdings in Piper Sandler Companies by 35.0% in the 1st quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider's stock valued at $88,456,000 after acquiring an additional 92,527 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company's stock.

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.