Piper Sandler Companies (NYSE:PIPR) Shares Gap Down - Should You Sell?

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares gapped down before the market opened on Friday . The stock had previously closed at $289.48, but opened at $280.79. Piper Sandler Companies shares last traded at $294.09, with a volume of 34,402 shares changing hands.

Wall Street Analyst Weigh In

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

Piper Sandler Companies Stock Performance

The stock has a market capitalization of $4.97 billion, a price-to-earnings ratio of 47.71 and a beta of 1.39. The stock has a fifty day simple moving average of $289.73 and a two-hundred day simple moving average of $272.90.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share for the quarter, beating analysts' consensus estimates of $2.26 by $0.26. Piper Sandler Companies had a net margin of 9.23% and a return on equity of 15.36%. The business had revenue of $357.00 million during the quarter, compared to the consensus estimate of $338.90 million. During the same quarter last year, the firm earned $1.13 earnings per share. The business's revenue for the quarter was up 23.7% on a year-over-year basis. Research analysts forecast that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Piper Sandler Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Thursday, August 29th were given a $0.65 dividend. This is a positive change from Piper Sandler Companies's previous quarterly dividend of $0.60. The ex-dividend date was Thursday, August 29th. This represents a $2.60 annualized dividend and a dividend yield of 0.93%. Piper Sandler Companies's dividend payout ratio (DPR) is 44.22%.

Insider Activity

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Jonathan J. Doyle sold 12,695 shares of the company's stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Philip Soran sold 1,792 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the transaction, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,276 shares of company stock valued at $3,936,252. Company insiders own 3.00% of the company's stock.

Institutional Investors Weigh In On Piper Sandler Companies

Several hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. raised its holdings in shares of Piper Sandler Companies by 194.7% during the second quarter. Blue Trust Inc. now owns 112 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 74 shares during the period. nVerses Capital LLC lifted its holdings 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 valued at $46,000 after purchasing an additional 100 shares in the last quarter. USA Financial Formulas purchased a new stake in Piper Sandler Companies during the third quarter valued at $77,000. FSC Wealth Advisors LLC grew its holdings in shares of Piper Sandler Companies by 39.0% in 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 last quarter. Finally, CWM LLC lifted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after buying an additional 57 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.