Piper Sandler Companies (NYSE:PIPR) Sees Significant Decline in Short Interest

Piper Sandler Companies (NYSE:PIPR - Get Free Report) saw a significant decline in short interest in February. As of February 28th, there was short interest totalling 276,000 shares, a decline 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. Approximately 1.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Piper Sandler Companies

Several institutional investors have recently added to or reduced their stakes in PIPR. IFP Advisors Inc increased its stake in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 131 shares during the last quarter. West Oak Capital LLC increased its stake in Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider's stock valued at $45,000 after purchasing an additional 1,300 shares during the last quarter. Park Square Financial Group LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at $45,000. Lazard Asset Management LLC acquired a new position in Piper Sandler Companies in the fourth quarter valued at $51,000. Finally, Allworth Financial LP increased its stake in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock valued at $70,000 after purchasing an additional 160 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the company. The Goldman Sachs Group decreased their target price on Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating on the stock in a research report on Friday, March 14th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

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Piper Sandler Companies Price Performance

PIPR traded up $1.95 during trading on Friday, reaching $259.10. 215,900 shares of the stock were exchanged, compared to its average volume of 105,850. Piper Sandler Companies has a 1 year low of $183.58 and a 1 year high of $351.80. The firm has a market capitalization of $4.59 billion, a P/E ratio of 25.35 and a beta of 1.46. The stock's 50 day moving average price is $271.07.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 period in the previous year, the business earned $4.03 earnings per share. Equities 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 announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were paid a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 1.00%. Piper Sandler Companies's payout ratio is currently 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.