Piper Sandler Companies (NYSE:PIPR) Upgraded by Northland Securities to “Outperform” Rating

Northland Securities upgraded shares of Piper Sandler Companies (NYSE:PIPR) from a market perform rating to an outperform rating in a research note published on Wednesday morning, Marketbeat Ratings reports. The firm currently has $350.00 price objective on the stock.

Several other equities analysts have also weighed in on PIPR. The Goldman Sachs Group raised Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $368.00 to $386.00 in a research note on Monday, November 10th. Bank of America assumed coverage on shares of Piper Sandler Companies in a report on Monday, January 26th. They issued an “underperform” rating and a $385.00 price target on the stock. Wolfe Research reissued an “outperform” rating and issued a $398.00 price objective on shares of Piper Sandler Companies in a research report on Wednesday, January 7th. Weiss Ratings restated a “hold (c)” rating on shares of Piper Sandler Companies in a report on Friday, January 23rd. Finally, Zacks Research upgraded Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Piper Sandler Companies presently has a consensus rating of “Moderate Buy” and an average target price of $379.75.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock opened at $302.56 on Wednesday. Piper Sandler Companies has a 1 year low of $202.91 and a 1 year high of $380.26. The firm has a 50 day moving average price of $342.87 and a 200 day moving average price of $339.62. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 19.14, a PEG ratio of 1.65 and a beta of 1.54.

Piper Sandler Companies’s stock is scheduled to split on Tuesday, March 24th. The 4-1 split was announced on Friday, February 6th. The newly minted shares will be payable to shareholders after the market closes on Monday, March 23rd.

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

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Investors 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 annualized dividend and a yield of 0.9%. Piper Sandler Companies’s payout ratio is 17.71%.

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 dated Wednesday, February 11th. The shares were sold at an average price of $350.99, for a total value of $1,839,187.60. Following the completion of the transaction, the president directly owned 2,896 shares of the company’s stock, valued at $1,016,467.04. This represents a 64.41% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds have recently bought and sold shares of PIPR. Norges Bank acquired a new position in shares of Piper Sandler Companies in the 4th quarter valued at approximately $79,239,000. American Century Companies Inc. increased its stake in shares of Piper Sandler Companies by 1,155.7% in the second quarter. American Century Companies Inc. now owns 200,149 shares of the company’s stock worth $55,630,000 after buying an additional 184,210 shares during the last quarter. Franklin Resources Inc. acquired a new stake in Piper Sandler Companies in the second quarter valued at $51,021,000. Wellington Management Group LLP bought a new position in Piper Sandler Companies during the 3rd quarter valued at $38,425,000. Finally, Greenwich Wealth Management LLC boosted its stake in Piper Sandler Companies by 415.1% during the 2nd quarter. Greenwich Wealth Management LLC now owns 104,200 shares of the company’s stock valued at $28,961,000 after acquiring an additional 83,971 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.