Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High – Time to Buy?

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during trading on Tuesday . The company traded as high as $288.47 and last traded at $306.82, with a volume of 79700 shares. The stock had previously closed at $300.62.

Wall Street Analyst Weigh In

PIPR has been the subject of a number of research reports. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. The Goldman Sachs Group boosted their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

Piper Sandler Companies Trading Up 1.1 %

The firm has a fifty day moving average of $308.44 and a two-hundred day moving average of $315.02. The company has a market capitalization of $5.50 billion, a PE ratio of 30.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the company earned $4.03 earnings per share. On average, equities analysts expect that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s payout ratio is 25.44%.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. IFP Advisors Inc raised its position in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 131 shares during the last quarter. West Oak Capital LLC raised its holdings in shares of Piper Sandler Companies by 650.0% during the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after acquiring an additional 1,300 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in Piper Sandler Companies in the fourth quarter worth $51,000. Allworth Financial LP boosted its holdings in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after acquiring an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other 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.