Piper Sandler Companies (NYSE:PIPR) Shares Scheduled to Split on Tuesday, March 24th

Piper Sandler Companies (NYSE:PIPR)’s stock is set to split on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly created shares will be issued to shareholders after the market closes on Monday, March 23rd.

Piper Sandler Companies Stock Down 0.0%

PIPR stock opened at $290.07 on Thursday. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $380.26. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 1.60 and a beta of 1.54. The firm’s fifty day simple moving average is $337.11 and its two-hundred day simple moving average is $338.27.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, February 6th. The company reported $6.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.72 by $2.16. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The firm had revenue of $635.00 million during the quarter, compared to analyst estimates of $516.52 million. During the same quarter last year, the business earned $4.80 EPS. The business’s revenue was up 27.4% on a year-over-year basis.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Tuesday, March 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.0%. Piper Sandler Companies’s dividend payout ratio is currently 17.71%.

Wall Street Analyst Weigh In

PIPR has been the subject of a number of research analyst reports. Wall Street Zen raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Tuesday, February 24th. Bank of America initiated coverage on Piper Sandler Companies in a research note on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price on the stock. Wolfe Research reiterated an “outperform” rating and set a $398.00 target price on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $350.00 target price for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $379.75.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,240 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $350.99, for a total transaction of $1,839,187.60. Following the completion of the sale, the president owned 2,896 shares in the company, valued at $1,016,467.04. This represents a 64.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

Hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC raised its holdings in Piper Sandler Companies by 16.7% in the fourth quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock worth $408,000 after purchasing an additional 172 shares in the last quarter. Bayban purchased a new stake in shares of Piper Sandler Companies during the fourth quarter valued at about $707,000. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Piper Sandler Companies by 544.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 174 shares of the company’s stock valued at $59,000 after buying an additional 147 shares in the last quarter. DGS Capital Management LLC bought a new stake in shares of Piper Sandler Companies in the 4th quarter valued at about $313,000. Finally, Virtu Financial LLC grew its position in shares of Piper Sandler Companies by 384.4% in the 4th quarter. Virtu Financial LLC now owns 6,442 shares of the company’s stock worth $2,188,000 after buying an additional 5,112 shares during the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.