Piper Sandler Companies (NYSE:PIPR) Shares Down 15.7% - What's Next?

Shares of Piper Sandler Companies (NYSE:PIPR - Get Free Report) dropped 15.7% during trading on Tuesday . The stock traded as low as $279.72 and last traded at $250.91. Approximately 154,087 shares changed hands during mid-day trading, an increase of 47% from the average daily volume of 104,899 shares. The stock had previously closed at $297.52.

Analysts Set New Price Targets

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

Piper Sandler Companies Price Performance

The stock has a 50 day moving average price of $280.51 and a two-hundred day moving average price of $297.56. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 24.86 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm posted $4.03 earnings per share. Sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Remove Ads

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th were given a $0.65 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 1.02%. Piper Sandler Companies's payout ratio is 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently made changes to their positions in the company. Cerity Partners LLC increased its position in Piper Sandler Companies by 21.3% in the third quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider's stock worth $4,558,000 after purchasing an additional 2,819 shares during the period. Barclays PLC raised its stake in shares of Piper Sandler Companies by 307.2% during the third quarter. Barclays PLC now owns 32,328 shares of the financial services provider's stock worth $9,174,000 after buying an additional 24,388 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Piper Sandler Companies by 336.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 314 shares of the financial services provider's stock valued at $94,000 after buying an additional 242 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider's stock valued at $58,245,000 after acquiring an additional 2,689 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Piper Sandler Companies during the 3rd quarter worth $624,000. Institutional investors own 72.79% of the company's stock.

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.