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Piper Sandler Companies (NYSE:PIPR) Trading Down 1.7% - Here's What Happened

Piper Sandler Companies logo with Finance background

Piper Sandler Companies (NYSE:PIPR - Get Free Report) was down 1.7% during trading on Tuesday . The stock traded as low as $342.00 and last traded at $342.80. Approximately 54,612 shares changed hands during trading, a decline of 53% from the average daily volume of 117,434 shares. The stock had previously closed at $348.81.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PIPR shares. StockNews.com lowered shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Monday, October 28th. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Read Our Latest Research Report on Piper Sandler Companies

Piper Sandler Companies Price Performance

The firm has a market cap of $6.06 billion, a PE ratio of 36.47 and a beta of 1.39. The company has a 50 day simple moving average of $317.71 and a 200-day simple moving average of $292.04.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate 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 net margin of 10.84% and a return on equity of 16.06%. On average, sell-side analysts predict that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.76%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies's dividend payout ratio is presently 27.78%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Coldstream Capital Management Inc. increased its stake in shares of Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider's stock valued at $524,000 after purchasing an additional 41 shares in the last quarter. Bank of Montreal Can lifted its position in Piper Sandler Companies by 2.1% in 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 in the last quarter. Xponance Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 48 shares during the last quarter. Commonwealth Equity Services LLC raised its stake in 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 valued at $539,000 after buying an additional 54 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider's stock worth $1,422,000 after acquiring an additional 56 shares during the period. Institutional investors own 72.79% of the company's stock.

Piper Sandler Companies Company Profile

(Get Free Report)

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.

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