Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High – Still a Buy?

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high on Tuesday . The company traded as high as $288.47 and last traded at $307.46, with a volume of 53900 shares traded. The stock had previously closed at $302.50.

Analyst Ratings Changes

Several research firms have recently issued reports on PIPR. The Goldman Sachs Group cut shares of Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective for the company. in a report on Monday, January 6th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Up 1.5 %

The stock has a market capitalization of $5.49 billion, a P/E ratio of 33.02 and a beta of 1.46. The firm’s 50-day simple moving average is $298.95 and its 200 day simple moving average is $312.03.

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

Piper Sandler Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.84%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of PIPR. Nisa Investment Advisors LLC raised its position in shares of Piper Sandler Companies by 2.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,861 shares of the financial services provider’s stock worth $1,758,000 after purchasing an additional 150 shares during the period. Park Avenue Securities LLC increased its stake in Piper Sandler Companies by 46.9% in the 4th quarter. Park Avenue Securities LLC now owns 3,103 shares of the financial services provider’s stock worth $931,000 after purchasing an additional 990 shares in the last quarter. West Oak Capital LLC raised its holdings in Piper Sandler Companies by 650.0% during the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,300 shares during the period. Oliver Luxxe Assets LLC lifted its stake in Piper Sandler Companies by 5.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 11,838 shares of the financial services provider’s stock valued at $3,551,000 after buying an additional 636 shares in the last quarter. Finally, Modus Advisors LLC acquired a new position in shares of Piper Sandler Companies in the fourth quarter worth about $404,000. 72.79% of the stock is owned by institutional investors.

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.