Piper Sandler Companies (NYSE:PIPR) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Piper Sandler Companies (NYSE:PIPR) from a hold rating to a buy rating in a report released on Friday morning.

Separately, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Up 1.7 %

Shares of PIPR traded up $5.12 during trading hours on Friday, reaching $297.75. The stock had a trading volume of 338,800 shares, compared to its average volume of 107,717. The firm has a 50-day simple moving average of $329.12 and a 200 day simple moving average of $306.80. Piper Sandler Companies has a 12 month low of $162.50 and a 12 month high of $351.80. The company has a market capitalization of $5.29 billion, a price-to-earnings ratio of 31.81 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The firm 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, equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds have recently modified their holdings of the company. Tidal Investments LLC raised its stake in shares of Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock worth $1,732,000 after purchasing an additional 2,629 shares during the period. Arete Wealth Advisors LLC purchased a new stake in Piper Sandler Companies during the third quarter worth about $310,000. Coldstream Capital Management Inc. raised its position 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 worth $524,000 after acquiring an additional 41 shares during the period. Geode Capital Management LLC boosted its stake in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Vestcor Inc grew its position in shares of Piper Sandler Companies by 23.5% during the 3rd quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 863 shares during the period. Institutional investors own 72.79% of the company’s stock.

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.