Piper Sandler Companies (NYSE:PIPR) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Piper Sandler Companies (NYSE:PIPR) from a hold rating to a buy rating in a report released on Tuesday morning.

Other equities analysts have also recently issued research reports about the company. The Goldman Sachs Group upgraded Piper Sandler Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $368.00 to $386.00 in a report on Monday, November 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Zacks Research raised shares of Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 10th. Bank of America began coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They set an “underperform” rating and a $385.00 price objective for the company. Finally, Wolfe Research restated an “outperform” rating and issued a $398.00 target price on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $389.67.

Piper Sandler Companies Trading Up 2.0%

Piper Sandler Companies stock opened at $317.13 on Tuesday. Piper Sandler Companies has a 12-month low of $202.91 and a 12-month high of $380.26. The firm has a 50-day moving average price of $346.42 and a 200-day moving average price of $340.25. The firm has a market capitalization of $5.61 billion, a PE ratio of 20.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.53.

Piper Sandler Companies’s stock is scheduled to split on the morning of Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be issued to shareholders after the closing bell on Monday, March 23rd.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $2.16. The business had revenue of $635.00 million during the quarter, compared to analyst estimates of $516.52 million. Piper Sandler Companies had a return on equity of 22.50% and a net margin of 14.77%.The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.80 earnings per share.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a $0.70 dividend. The ex-dividend date is Tuesday, March 3rd. This represents a $2.80 annualized dividend and a dividend yield of 0.9%. Piper Sandler Companies’s payout ratio is currently 17.71%.

Insider Buying and Selling at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,240 shares of the stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the transaction, the president directly owned 2,896 shares in the company, valued at approximately $1,016,467.04. This trade represents a 64.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of 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 acquiring an additional 35 shares during the period. Aster Capital Management DIFC Ltd boosted its position in Piper Sandler Companies by 1,440.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock valued at $26,000 after purchasing an additional 72 shares in the last quarter. CENTRAL TRUST Co bought a new stake in Piper Sandler Companies during the second quarter valued at about $28,000. Los Angeles Capital Management LLC purchased a new position in Piper Sandler Companies in the fourth quarter valued at about $28,000. Finally, Twin Peaks Wealth Advisors LLC bought a new position in Piper Sandler Companies in the second quarter worth about $31,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

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.