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

Shares of Piper Sandler Companies (NYSE:PIPR) dropped 15.7% during mid-day 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 Analysts Forecast Growth

PIPR has been the subject of several analyst reports. The Goldman Sachs Group upped their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

Piper Sandler Companies Price Performance

The business’s 50-day simple moving average is $288.32 and its two-hundred day simple moving average is $301.54. The stock has a market capitalization of $4.45 billion, a price-to-earnings ratio of 24.55 and a beta of 1.46.

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 last year, the business posted $4.03 EPS. As a group, sell-side analysts expect that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.04%. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. IFP Advisors Inc grew its position in 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 valued at $43,000 after acquiring an additional 131 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Piper Sandler Companies in the fourth quarter valued at $45,000. Lazard Asset Management LLC acquired a new stake in Piper Sandler Companies during the 4th quarter valued at $51,000. Allworth Financial LP increased its stake in 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 buying an additional 160 shares during the period. Finally, Wood Tarver Financial Group LLC acquired a new position in Piper Sandler Companies in the 4th quarter worth $73,000. 72.79% of the stock is owned by institutional investors and hedge funds.

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.