Piper Sandler Companies (NYSE:PIPR) Short Interest Down 39.2% in October

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

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR opened at $336.11 on Friday. Piper Sandler Companies has a 1 year low of $150.30 and a 1 year high of $347.15. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 35.91 and a beta of 1.39. The company’s 50 day simple moving average is $306.39 and its 200 day simple moving average is $284.28.

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

Piper Sandler Companies Dividend Announcement

The firm 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 dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s payout ratio is 27.78%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, Director Philip Soran sold 1,792 shares of the business’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 of the company’s stock, valued at $4,840,556.72. The trade was a 8.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 3.00% 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. Bank of Montreal Can boosted its holdings in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock valued at $524,000 after acquiring an additional 46 shares in the last quarter. Xponance Inc. increased its stake in shares of Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after buying an additional 48 shares during the period. Commonwealth Equity Services LLC raised its holdings in Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock valued at $539,000 after buying an additional 54 shares during the last quarter. Harbor Capital Advisors Inc. boosted its position in Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares during the period. Finally, CWM LLC grew its holdings in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.