Piper Sandler Companies (NYSE:PIPR) Stock Price Down 15.7% – Should You Sell?

Piper Sandler Companies (NYSE:PIPR) 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 trading, an increase of 47% from the average daily volume of 104,899 shares. The stock had previously closed at $297.52.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, The Goldman Sachs Group increased their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd.

Piper Sandler Companies Stock Up 2.7 %

The company has a market cap of $4.45 billion, a price-to-earnings ratio of 24.55 and a beta of 1.46. The company has a fifty day simple moving average of $288.32 and a two-hundred day simple moving average of $301.54.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results 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 quarter in the prior year, the company posted $4.03 earnings per share. On average, research analysts predict that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 1.04%. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of large investors have recently bought and sold shares of the stock. IFP Advisors Inc raised its holdings in shares of Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the last quarter. West Oak Capital LLC increased its position in Piper Sandler Companies by 650.0% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares in the last quarter. Park Square Financial Group LLC acquired a new position in Piper Sandler Companies in the 4th quarter valued at about $45,000. Lazard Asset Management LLC purchased a new position in Piper Sandler Companies in the 4th quarter valued at about $51,000. Finally, Allworth Financial LP boosted its stake in shares of Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares during the last quarter. Institutional investors and hedge funds 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.