Piper Sandler Companies (NYSE:PIPR) Short Interest Up 21.0% in August

Piper Sandler Companies (NYSE:PIPR) was the recipient of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 430,500 shares, an increase of 21.0% from the August 15th total of 355,700 shares. Based on an average trading volume of 112,000 shares, the short-interest ratio is presently 3.8 days. Approximately 2.5% of the company’s shares are short sold.

Shares of PIPR traded up $1.74 during midday trading on Wednesday, reaching $70.15. 104,300 shares of the company were exchanged, compared to its average volume of 110,207. The stock has a 50-day moving average price of $71.79 and a 200-day moving average price of $60.22. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 14.80 and a beta of 1.43. Piper Sandler Companies has a 1-year low of $31.95 and a 1-year high of $87.45. The company has a current ratio of 1.24, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, July 31st. The company reported $1.93 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $1.38. The company had revenue of $295.96 million for the quarter, compared to analysts’ expectations of $190.29 million. Piper Sandler Companies had a return on equity of 15.64% and a net margin of 6.68%. Equities research analysts anticipate that Piper Sandler Companies will post 4.98 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Friday, August 28th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date was Thursday, August 27th. This is a boost from Piper Sandler Companies’s previous quarterly dividend of $0.20. Piper Sandler Companies’s payout ratio is currently 16.30%.

A number of equities research analysts have issued reports on the company. JMP Securities raised Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $68.00 price target for the company in a research report on Friday, July 10th. Northland Securities boosted their price target on Piper Sandler Companies from $70.00 to $80.00 in a research report on Friday, August 21st.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

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