Piper Sandler Companies (NYSE:PIPR) Upgraded at StockNews.com

StockNews.com upgraded shares of Piper Sandler Companies (NYSE:PIPR) from a hold rating to a buy rating in a research note released on Friday.

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $297.75 on Friday. The company has a market capitalization of $5.29 billion, a P/E ratio of 31.81 and a beta of 1.43. The stock’s 50 day moving average price is $329.12 and its 200 day moving average price is $307.44. Piper Sandler Companies has a 52 week low of $162.50 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Piper Sandler Companies by 0.3% during the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock worth $193,680,000 after purchasing an additional 2,137 shares in the last quarter. FMR LLC raised its stake in Piper Sandler Companies by 49.0% during the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the period. Geode Capital Management LLC raised its stake in Piper Sandler Companies by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after buying an additional 7,344 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Piper Sandler Companies by 1.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after acquiring an additional 2,689 shares in the last quarter. Finally, Systematic Financial Management LP grew its stake in Piper Sandler Companies by 3.4% in the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after acquiring an additional 6,507 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.