Piper Sandler Companies (NYSE:PIPR) Stock Price Down 1.7% – Here’s Why

Piper Sandler Companies (NYSE:PIPR) shares dropped 1.7% on Tuesday . The stock traded as low as $342.00 and last traded at $342.80. Approximately 54,612 shares changed hands during mid-day 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

PIPR has been the subject of several research analyst reports. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. 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 Down 1.7 %

The firm’s 50-day moving average price is $317.71 and its 200 day moving average price is $292.04. The company has a market capitalization of $6.10 billion, a P/E ratio of 36.65 and a beta of 1.39.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors have recently added to or reduced their stakes in the company. Coldstream Capital Management Inc. boosted its stake in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 41 shares during the last quarter. Bank of Montreal Can boosted its stake in Piper Sandler Companies by 2.1% in the second 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 during the last quarter. Xponance Inc. boosted its stake in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after acquiring an additional 48 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after acquiring an additional 54 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in 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 valued at $1,422,000 after acquiring an additional 56 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

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.