Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR) was the recipient of a large decrease in short interest in February. As of February 28th, there was short interest totalling 276,000 shares, a decrease of 19.9% from the February 13th total of 344,400 shares. Based on an average daily volume of 109,900 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PIPR. The Goldman Sachs Group cut their price objective on Piper Sandler Companies from $321.00 to $286.00 and set a “neutral” rating for the company in a report on Friday. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Quadrant Capital Group LLC raised its position in Piper Sandler Companies by 5.2% during the 4th quarter. Quadrant Capital Group LLC now owns 754 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 37 shares during the last quarter. Arizona State Retirement System raised its position in shares of Piper Sandler Companies by 0.8% in the 4th quarter. Arizona State Retirement System now owns 5,137 shares of the financial services provider’s stock worth $1,541,000 after acquiring an additional 40 shares in the last quarter. Coldstream Capital Management Inc. raised its position in shares of Piper Sandler Companies by 2.3% in the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 41 shares in the last quarter. Lido Advisors LLC raised its position in shares of Piper Sandler Companies by 1.2% in the 4th quarter. Lido Advisors LLC now owns 4,185 shares of the financial services provider’s stock worth $1,255,000 after acquiring an additional 49 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Piper Sandler Companies by 4.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,394 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 56 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $254.06 on Monday. The stock has a market cap of $4.50 billion, a PE ratio of 24.86 and a beta of 1.46. Piper Sandler Companies has a 1-year low of $183.58 and a 1-year high of $351.80. The firm’s 50-day moving average is $280.51.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the business posted $4.03 earnings per share. Research analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

Piper Sandler Companies Company Profile

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.