Piper Sandler Companies (NYSE:PIPR) Receives $95.06 Average Target Price from Analysts

Shares of Piper Sandler Companies (NYSE:PIPR) have earned an average rating of “Hold” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $95.0625.

A number of equities analysts recently commented on the stock. The Goldman Sachs Group reaffirmed a “buy” rating and set a $97.00 price target on shares of Piper Sandler Companies in a research report on Tuesday, April 14th. Wall Street Zen lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Piper Sandler Companies in a research report on Wednesday, May 20th. Zacks Research lowered shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 7th. Finally, Northland Securities raised shares of Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price target on the stock in a research report on Wednesday, March 4th.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd bought a new position in Piper Sandler Companies in the 1st quarter valued at about $1,535,000. Sterling Capital Management LLC increased its holdings in Piper Sandler Companies by 296.5% in the 1st quarter. Sterling Capital Management LLC now owns 452 shares of the company’s stock valued at $35,000 after buying an additional 338 shares during the period. Rockefeller Capital Management L.P. increased its holdings in Piper Sandler Companies by 71.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 346 shares of the company’s stock valued at $118,000 after buying an additional 144 shares during the period. Corient Private Wealth LLC increased its holdings in Piper Sandler Companies by 16.7% in the 4th quarter. Corient Private Wealth LLC now owns 1,202 shares of the company’s stock valued at $408,000 after buying an additional 172 shares during the period. Finally, Bayban bought a new position in Piper Sandler Companies in the 4th quarter valued at about $707,000. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Performance

NYSE:PIPR opened at $79.14 on Wednesday. Piper Sandler Companies has a 52 week low of $62.49 and a 52 week high of $95.07. The firm has a market cap of $5.62 billion, a price-to-earnings ratio of 19.98, a P/E/G ratio of 1.57 and a beta of 1.41. The firm’s 50-day simple moving average is $81.78 and its 200 day simple moving average is $82.53.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Thursday, May 7th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.15. Piper Sandler Companies had a net margin of 13.94% and a return on equity of 21.09%. The business had revenue of $469.54 million for the quarter, compared to analyst estimates of $436.30 million. During the same period last year, the firm earned $4.09 earnings per share. Piper Sandler Companies’s revenue for the quarter was up 32.7% compared to the same quarter last year. Sell-side analysts anticipate that Piper Sandler Companies will post 4.57 EPS for the current year.

Piper Sandler Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $0.80 annualized dividend and a yield of 1.0%. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.18. Piper Sandler Companies’s payout ratio is 20.20%.

About Piper Sandler Companies

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.