Piper Sandler Companies (NYSE:PIPR) Shares Down 1.7% – What’s Next?

Shares of Piper Sandler Companies (NYSE:PIPR) traded down 1.7% on Tuesday . The stock traded as low as $342.00 and last traded at $342.80. 54,612 shares traded hands during trading, a decline of 53% from the average session volume of 117,434 shares. The stock had previously closed at $348.81.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Down 1.7 %

The stock’s 50-day simple moving average is $317.71 and its 200 day simple moving average is $292.04. The company has a market cap of $6.10 billion, a price-to-earnings ratio of 36.65 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating 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 company had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. increased its stake in Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC increased its stake in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock worth $46,000 after purchasing an additional 100 shares during the period. USA Financial Formulas purchased a new stake in Piper Sandler Companies during the third quarter worth about $77,000. FSC Wealth Advisors LLC increased its stake in Piper Sandler Companies by 39.0% during the second quarter. FSC Wealth Advisors LLC now owns 346 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 97 shares during the period. Finally, CWM LLC increased its stake in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after purchasing an additional 57 shares during the period. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.