Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totalling 412,100 shares, a drop of 15.1% from the September 30th total of 485,300 shares. Currently, 2.4% of the shares of the company are sold short. Based on an average daily trading volume, of 114,300 shares, the short-interest ratio is currently 3.6 days.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Piper Sandler Companies

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PIPR. Bank of Montreal Can boosted its position in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider's stock valued at $524,000 after acquiring an additional 46 shares during the last quarter. Xponance Inc. grew its stake in shares of Piper Sandler Companies by 4.6% in the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after buying an additional 48 shares during the period. Commonwealth Equity Services LLC increased its holdings in shares of Piper Sandler Companies by 2.4% during the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider's stock worth $539,000 after buying an additional 54 shares during the last quarter. CWM LLC increased its holdings in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after buying an additional 57 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its position in shares of Piper Sandler Companies by 5.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,317 shares of the financial services provider's stock valued at $303,000 after buying an additional 67 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

Piper Sandler Companies stock traded up $8.79 during midday trading on Monday, reaching $289.32. The company had a trading volume of 171,000 shares, compared to its average volume of 107,442. Piper Sandler Companies has a 12-month low of $134.82 and a 12-month high of $306.10. The company has a market capitalization of $5.12 billion, a P/E ratio of 49.20 and a beta of 1.39. The firm's fifty day simple moving average is $289.55 and its 200-day simple moving average is $273.85.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. The business's revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.13 earnings per share. On average, analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. 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 0.90%. Piper Sandler Companies's payout ratio is presently 44.22%.

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.