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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was the recipient of a large decline in short interest during the month of 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 trading volume of 109,900 shares, the days-to-cover ratio is presently 2.5 days. Currently, 1.6% of the company's stock are sold short.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc lifted its holdings in Piper Sandler Companies by 2,183.3% during 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. Park Square Financial Group LLC purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $45,000. Lazard Asset Management LLC purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $51,000. Allworth Financial LP lifted its holdings in Piper Sandler Companies by 238.8% during 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. Finally, Wood Tarver Financial Group LLC purchased a new stake in Piper Sandler Companies during the fourth quarter valued at about $73,000. 72.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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Piper Sandler Companies Trading Down 0.1 %

Shares of NYSE:PIPR traded down $0.35 during midday trading on Thursday, reaching $257.35. The company had a trading volume of 76,829 shares, compared to its average volume of 104,977. The company's 50 day moving average price is $274.68 and its 200 day moving average price is $294.92. The stock has a market cap of $4.56 billion, a P/E ratio of 25.18 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.58 and a 52-week high of $351.80.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued 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 net margin of 11.87% and a return on equity of 17.00%. During the same period in the prior year, the company posted $4.03 EPS. Research analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Tuesday, March 4th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio (DPR) is currently 25.44%.

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.