Piper Sandler Companies' (PIPR) "Market Perform" Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market perform rating on shares of Piper Sandler Companies (NYSE:PIPR - Free Report) in a report issued on Monday,Benzinga reports.

Several other research firms have also recently weighed in on PIPR. The Goldman Sachs Group lowered their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th.

Piper Sandler Companies Trading Up 1.9 %

Shares of NYSE PIPR traded up $4.57 during trading on Monday, reaching $250.00. 183,432 shares of the stock were exchanged, compared to its average volume of 119,697. The stock has a market cap of $4.44 billion, a P/E ratio of 24.46 and a beta of 1.50. Piper Sandler Companies has a twelve month low of $201.97 and a twelve month high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its quarterly earnings results on Friday, May 2nd. The financial services provider reported $4.09 EPS for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The company had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same quarter last year, the business earned $2.79 earnings per share. Piper Sandler Companies's revenue was up 14.7% compared to the same quarter last year. On average, research analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Shareholders of record on Friday, May 30th will be paid a $0.65 dividend. The ex-dividend date is Friday, May 30th. This represents a $2.60 annualized dividend and a yield of 1.04%. Piper Sandler Companies's payout ratio is currently 22.73%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PIPR. Norges Bank acquired a new position in Piper Sandler Companies in the 4th quarter valued at approximately $68,696,000. GAMMA Investing LLC lifted its position in shares of 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 valued at $26,988,000 after purchasing an additional 108,693 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider's stock valued at $209,312,000 after acquiring an additional 102,426 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Piper Sandler Companies by 16.8% during the 1st quarter. Stephens Investment Management Group LLC now owns 250,507 shares of the financial services provider's stock worth $62,041,000 after purchasing an additional 35,953 shares during the period. Finally, Vanguard Group Inc. raised its stake in Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider's stock valued at $618,974,000 after acquiring an additional 31,400 shares during the period. 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.