Piper Sandler Companies (NYSE:PIPR) Downgraded to "Hold" Rating by StockNews.com

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Saturday.

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

Piper Sandler Companies Stock Performance

PIPR traded down $4.88 on Friday, reaching $301.10. The company had a trading volume of 56,700 shares, compared to its average volume of 106,808. Piper Sandler Companies has a fifty-two week low of $162.50 and a fifty-two week high of $351.80. The stock has a market cap of $5.35 billion, a P/E ratio of 32.17 and a beta of 1.43. The company's fifty day moving average is $322.06 and its 200 day moving average is $309.41.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results 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. The company had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. Bank of New York Mellon Corp raised its position in shares of Piper Sandler Companies by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 170,145 shares of the financial services provider's stock valued at $39,162,000 after buying an additional 9,380 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Piper Sandler Companies by 2.7% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 56,837 shares of the financial services provider's stock valued at $13,082,000 after purchasing an additional 1,491 shares in the last quarter. Hantz Financial Services Inc. bought a new position in shares of Piper Sandler Companies in the 2nd quarter valued at $1,512,000. Commonwealth Equity Services LLC raised 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 in the last quarter. Finally, nVerses Capital LLC lifted its position in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after buying an additional 100 shares during the last quarter. 72.79% of the stock is currently owned by 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.