Piper Sandler Companies (NYSE:PIPR) Trading Down 15.7% – What’s Next?

Shares of Piper Sandler Companies (NYSE:PIPR) fell 15.7% during mid-day trading on Tuesday . The stock traded as low as $279.72 and last traded at $250.91. 154,087 shares traded hands during mid-day trading, an increase of 47% from the average session volume of 104,899 shares. The stock had previously closed at $297.52.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PIPR shares. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group raised their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd.

Piper Sandler Companies Price Performance

The company’s 50-day simple moving average is $288.32 and its two-hundred day simple moving average is $301.54. The firm has a market capitalization of $4.45 billion, a P/E ratio of 24.55 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the business posted $4.03 earnings per share. Analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.04%. Piper Sandler Companies’s payout ratio is currently 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its position in shares of Piper Sandler Companies by 5.2% in the fourth quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock worth $226,000 after purchasing an additional 37 shares during the period. Arizona State Retirement System lifted its stake in shares of Piper Sandler Companies by 0.8% during the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock valued at $1,541,000 after buying an additional 40 shares in the last quarter. Coldstream Capital Management Inc. boosted its holdings in Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares during the period. Lido Advisors LLC increased its stake in Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock worth $1,255,000 after buying an additional 49 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock worth $418,000 after buying an additional 56 shares in the last quarter. 72.79% of the stock is owned by hedge funds and other institutional investors.

About Piper Sandler Companies

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.