JMP Securities Reaffirms "Market Perform" Rating for Piper Sandler Companies (NYSE:PIPR)

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

PIPR has been the subject of a number of other research reports. The Goldman Sachs Group dropped their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company 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 research report on Tuesday, January 7th.

Piper Sandler Companies Stock Down 1.9 %

NYSE PIPR traded down $4.75 on Monday, hitting $251.44. 131,785 shares of the company were exchanged, compared to its average volume of 120,170. The company has a market cap of $4.47 billion, a price-to-earnings ratio of 24.60 and a beta of 1.50. Piper Sandler Companies has a 1-year low of $201.97 and a 1-year high of $351.80.

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

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 13th. Stockholders of record on Friday, May 30th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, May 30th. Piper Sandler Companies's dividend payout ratio (DPR) is currently 22.73%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently made changes to their positions in the stock. Norges Bank bought a new position in Piper Sandler Companies during the fourth quarter worth about $68,696,000. GAMMA Investing LLC grew its holdings 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 valued at $26,988,000 after purchasing an additional 108,693 shares during the period. Invesco Ltd. increased its stake in 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 purchasing an additional 102,426 shares in the last quarter. Westwood Holdings Group Inc. raised its holdings in Piper Sandler Companies by 35.0% in the first quarter. Westwood Holdings Group Inc. now owns 357,167 shares of the financial services provider's stock worth $88,456,000 after purchasing an additional 92,527 shares during the period. Finally, Stephens Investment Management Group LLC boosted its position in shares of Piper Sandler Companies by 16.8% during the first 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 in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

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.