Piper Sandler Companies (NYSE:PIPR) Short Interest Update

Piper Sandler Companies (NYSE:PIPR) saw a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 250,700 shares, a decrease of 39.2% from the October 15th total of 412,100 shares. Based on an average daily trading volume, of 104,500 shares, the days-to-cover ratio is currently 2.4 days. Currently, 1.5% of the shares of the company are short sold.

Analyst Ratings Changes

Several research firms have issued reports on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Price Performance

NYSE PIPR opened at $336.11 on Friday. The business has a 50 day moving average price of $306.39 and a 200 day moving average price of $284.28. The company has a market capitalization of $5.98 billion, a P/E ratio of 35.91 and a beta of 1.39. Piper Sandler Companies has a 1-year low of $150.30 and a 1-year high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be paid a $0.65 dividend. The ex-dividend date is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.77%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Insiders Place Their Bets

In related news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now owns 18,341 shares in the company, valued at $4,840,556.72. This trade represents a 8.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Large investors have recently modified their holdings of the company. Geode Capital Management LLC increased its position in shares of Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock worth $107,184,000 after acquiring an additional 7,344 shares in the last quarter. Vestcor Inc boosted its position in Piper Sandler Companies by 23.5% during the 3rd quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock worth $1,288,000 after purchasing an additional 863 shares during the period. Barclays PLC increased its holdings in Piper Sandler Companies by 307.2% in the 3rd quarter. Barclays PLC now owns 32,328 shares of the financial services provider’s stock valued at $9,174,000 after purchasing an additional 24,388 shares in the last quarter. MML Investors Services LLC raised its position in Piper Sandler Companies by 4.3% in the third quarter. MML Investors Services LLC now owns 1,790 shares of the financial services provider’s stock valued at $508,000 after purchasing an additional 74 shares during the period. Finally, Taika Capital LP acquired a new position in shares of Piper Sandler Companies during the third quarter worth about $890,000. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.