Brokerages Set Piper Sandler Companies (NYSE:PIPR) PT at $95.06

Piper Sandler Companies (NYSE:PIPR) has been assigned a consensus rating of “Hold” from the six research firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $95.0625.

Several brokerages have commented on PIPR. Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a research note on Wednesday, May 20th. Wall Street Zen downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Zacks Research cut Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $97.00 price target on shares of Piper Sandler Companies in a report on Tuesday, April 14th.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its position in Piper Sandler Companies by 89.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its position in Piper Sandler Companies by 1,440.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after acquiring an additional 72 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $28,000. UMB Bank n.a. lifted its stake in Piper Sandler Companies by 55.2% in the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after buying an additional 32 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in Piper Sandler Companies by 296.5% in 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 last quarter. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

PIPR stock traded down $1.22 during trading on Friday, reaching $72.22. 572,062 shares of the company traded hands, compared to its average volume of 622,003. Piper Sandler Companies has a 12 month low of $68.70 and a 12 month high of $95.07. The business has a 50 day simple moving average of $78.06 and a 200 day simple moving average of $81.32. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 18.24, a price-to-earnings-growth ratio of 1.45 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Thursday, May 7th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The company had revenue of $469.54 million for the quarter, compared to analyst estimates of $436.30 million. During the same period in the prior year, the company posted $4.09 EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. As a group, research analysts forecast that Piper Sandler Companies will post 4.57 EPS for the current year.

Piper Sandler Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.20 dividend. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Piper Sandler Companies’s payout ratio is 20.20%.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.