Piper Sandler Companies (NYSE:PIPR) Receives $95.06 Average Price Target from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have been given an average rating of “Hold” by the seven research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $95.0625.

Several research firms recently commented on PIPR. Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Wolfe Research restated an “outperform” rating and issued a $99.50 price objective on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Bank of America assumed coverage on shares of Piper Sandler Companies in a research note on Monday, January 26th. They issued an “underperform” rating and a $96.25 price objective for the company. The Goldman Sachs Group restated a “buy” rating and issued a $97.00 price objective on shares of Piper Sandler Companies in a research note on Tuesday, April 14th. Finally, Northland Securities upgraded shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price objective for the company in a research note on Wednesday, March 4th.

Piper Sandler Companies Trading Up 1.1%

NYSE:PIPR traded up $1.00 during trading hours on Tuesday, hitting $89.04. 134,236 shares of the company traded hands, compared to its average volume of 683,653. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of 22.53, a P/E/G ratio of 1.75 and a beta of 1.48. Piper Sandler Companies has a twelve month low of $58.79 and a twelve month high of $95.07. The firm has a 50-day moving average of $78.91 and a 200 day moving average of $83.35.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, February 6th. The company reported $6.88 EPS for the quarter, beating the consensus estimate of $4.72 by $2.16. The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The business’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 EPS. Equities research analysts predict that Piper Sandler Companies will post 4.68 earnings per share for the current fiscal year.

Piper Sandler Companies Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were paid a $0.175 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.8%. Piper Sandler Companies’s dividend payout ratio is currently 17.72%.

Insider Activity

In other news, President Debbra L. Schoneman sold 20,960 shares of the stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $87.75, for a total value of $1,839,187.60. Following the completion of the transaction, the president owned 11,584 shares in the company, valued at approximately $1,016,467.04. This represents a 64.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.10% of the company’s stock.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently made changes to their positions in PIPR. M&T Bank Corp boosted its stake in Piper Sandler Companies by 3.5% in the second quarter. M&T Bank Corp now owns 905 shares of the company’s stock worth $251,000 after purchasing an additional 31 shares in the last quarter. UMB Bank n.a. boosted 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 worth $31,000 after purchasing an additional 32 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Piper Sandler Companies by 89.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in Piper Sandler Companies by 0.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock worth $2,754,000 after purchasing an additional 35 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position in Piper Sandler Companies by 13.4% in the 2nd quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock valued at $93,000 after acquiring an additional 39 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.