Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year Low - What's Next?

Key Points

• Piper Sandler shares fell to a new 52-week low of $62.83, trading about 2.8% lower and well below their 50-day and 200-day moving averages.
• Analyst sentiment is mixed: the stock has an overall “Hold” rating, with an average price target of $90.81 versus its recent trading level.
• The company recently exceeded quarterly earnings and revenue estimates, while paying a quarterly dividend of $0.20, equivalent to a 1.3% yield.

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday. The stock traded as low as $62.83 and last traded at $63.0090, with a volume of 49736 shares traded. The stock had previously closed at $65.66.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a "hold (c+)" rating on shares of Piper Sandler Companies in a research note on Monday, August 17th. The Goldman Sachs Group set a $80.00 price target on Piper Sandler Companies and gave the stock a "buy" rating in a research note on Thursday, October 1st. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Piper Sandler Companies has an average rating of "Hold" and an average price target of $90.81.

Piper Sandler Companies Trading Down 2.8%

The company's 50 day moving average price is $73.71 and its two-hundred day moving average price is $77.17. The firm has a market cap of $4.51 billion, a PE ratio of 14.82, 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 data on Thursday, July 30th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.88 by $0.16. The firm had revenue of $491.14 million during the quarter, compared to analyst estimates of $445.28 million. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.Piper Sandler Companies's revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.92 EPS. Equities research analysts expect that Piper Sandler Companies will post 4.51 earnings per share 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. Stockholders of record on Friday, August 28th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $0.80 annualized dividend and a dividend yield of 1.3%. Piper Sandler Companies's dividend payout ratio (DPR) is 18.52%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Caitong International Asset Management Co. Ltd raised its stake in Piper Sandler Companies by 544.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company's stock worth $59,000 after acquiring an additional 147 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of Piper Sandler Companies by 71.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company's stock worth $118,000 after purchasing an additional 144 shares in the last quarter. Sterling Capital Management LLC raised its position in shares of Piper Sandler Companies by 296.5% during the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company's stock valued at $35,000 after purchasing an additional 338 shares during the period. Parkside Financial Bank & Trust bought a new stake in shares of Piper Sandler Companies during the 2nd quarter valued at $37,000. Finally, DGS Capital Management LLC bought a new position in Piper Sandler Companies in the 4th quarter worth $313,000. 72.79% of the stock is currently owned by institutional investors.

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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