Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week Low – Should You Sell?

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week low during trading on Tuesday. The stock traded as low as $67.54 and last traded at $68.6820, with a volume of 582813 shares trading hands. The stock had previously closed at $71.69.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Monday, August 17th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $95.06.

Piper Sandler Companies Trading Down 4.7%

The stock has a 50-day moving average of $75.01 and a two-hundred day moving average of $77.46. The firm has a market cap of $4.83 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 1.67 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Thursday, July 30th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.The firm had revenue of $491.14 million for the quarter, compared to the consensus estimate of $445.28 million. During the same quarter in the previous year, the company earned $2.92 EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. Sell-side analysts expect that Piper Sandler Companies will post 4.51 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 11th. Stockholders of record on Friday, August 28th were issued a dividend of $0.20 per share. The ex-dividend date was Friday, August 28th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.2%. Piper Sandler Companies’s payout ratio is currently 18.52%.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PIPR. Norges Bank purchased a new position in Piper Sandler Companies during the 4th quarter valued at about $79,239,000. Bank of New York Mellon Corp lifted its position in shares of Piper Sandler Companies by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after purchasing an additional 2,967 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Piper Sandler Companies by 32.4% in the fourth quarter. Fiera Capital Corp now owns 108,167 shares of the company’s stock worth $36,745,000 after purchasing an additional 26,500 shares in the last quarter. Kennedy Capital Management LLC boosted its holdings in shares of Piper Sandler Companies by 11.9% during the fourth quarter. Kennedy Capital Management LLC now owns 92,339 shares of the company’s stock worth $31,368,000 after purchasing an additional 9,786 shares during the period. Finally, Nicholas Investment Partners LP grew its position in Piper Sandler Companies by 3.4% during the fourth quarter. Nicholas Investment Partners LP now owns 46,905 shares of the company’s stock valued at $15,934,000 after purchasing an additional 1,524 shares in the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE:PIPR) is an investment banking and financial services firm that provides advisory, capital markets, institutional sales and trading, research, and public finance services. The company serves corporations, private equity firms, institutional investors, government entities, and other public-sector organizations.

Its investment banking activities include mergers and acquisitions advice, equity and debt offerings, private placements, and strategic and financial advisory services.