Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year Low - Here's Why

Key Points

• Piper Sandler shares fell to a new 52-week low of $62.61, well below their 50-day moving average of $72.59 and 200-day average of $76.83.
• Analyst sentiment remains mixed, with three Buy, two Hold and one Sell rating; the consensus rating is Hold, despite a $90.81 average price target.
• The company reported quarterly results above expectations, with EPS of $1.04 versus the $0.88 estimate and revenue up 24.9% year over year. It also pays a quarterly dividend of $0.20 per share, representing a 1.3% yield.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) reached a new 52-week low during trading on Wednesday. The stock traded as low as $62.61 and last traded at $62.8560, with a volume of 20,086 shares trading hands. The stock had previously closed at $64.90.

Analyst Ratings Changes

PIPR has been the topic of a number of recent research reports. The Goldman Sachs Group set a $80.00 price objective on shares of Piper Sandler Companies and gave the company a "buy" rating in a report on Thursday, October 1st. Weiss Ratings reissued a "hold (c+)" rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $90.81.

Piper Sandler Companies Stock Performance

The stock's fifty day moving average price is $72.59 and its 200-day moving average price is $76.83. The company has a market capitalization of $4.40 billion, a P/E ratio of 14.43, a PEG ratio of 1.52 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $1.04 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.16. The business had revenue of $491.14 million for the quarter, compared to analysts' expectations of $445.28 million. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%. The firm's revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.92 EPS. On average, research analysts predict that Piper Sandler Companies will post 4.44 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were given a dividend of $0.20 per share. The ex-dividend date was Friday, August 28th. This represents a $0.80 annualized dividend and a yield of 1.3%. Piper Sandler Companies's dividend payout ratio (DPR) is 18.52%.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. boosted its holdings in Piper Sandler Companies by 71.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company's stock valued at $118,000 after acquiring an additional 144 shares during the period. Caitong International Asset Management Co. Ltd raised its holdings in Piper Sandler Companies by 544.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company's stock worth $59,000 after purchasing an additional 147 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Piper Sandler Companies by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,202 shares of the company's stock valued at $408,000 after purchasing an additional 172 shares during the period. GAMMA Investing LLC lifted its position in Piper Sandler Companies by 17.6% during the third quarter. GAMMA Investing LLC now owns 2,201 shares of the company's stock valued at $145,000 after buying an additional 330 shares during the period. Finally, Sterling Capital Management LLC increased its stake in shares of Piper Sandler Companies by 296.5% in the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company's stock worth $35,000 after acquiring an additional 338 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 NYSE: PIPR is a U.S.-based investment bank and financial services firm that provides capital markets and advisory services to corporations, financial institutions, public entities and other organizations. Its activities include investment banking, mergers and acquisitions advisory, equity and debt offerings, private placements, restructuring advice and strategic consulting.

The company also offers institutional securities services, including equity and fixed-income research, sales and trading, and municipal finance capabilities.

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