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

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during trading on Monday . The company traded as high as $288.47 and last traded at $279.16, with a volume of 3039 shares changing hands. The stock had previously closed at $282.40.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. Finally, 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 research report on Monday, January 6th.

Piper Sandler Companies Trading Down 1.4 %

The firm’s fifty day moving average price is $305.24. The stock has a market capitalization of $4.95 billion, a PE ratio of 29.74 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, beating analysts’ consensus estimates 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. On average, sell-side analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.93%. Piper Sandler Companies’s payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Several hedge funds have recently made changes to their positions in PIPR. State Street Corp increased its stake in Piper Sandler Companies by 0.3% in the third quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after purchasing an additional 2,137 shares during the last quarter. FMR LLC increased its stake in Piper Sandler Companies by 49.0% in the third quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after purchasing an additional 205,584 shares during the last quarter. Geode Capital Management LLC increased its stake in 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 valued at $107,184,000 after purchasing an additional 7,344 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Piper Sandler Companies by 1.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Systematic Financial Management LP increased its stake in Piper Sandler Companies by 3.4% in the third quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after purchasing an additional 6,507 shares during the last quarter. Institutional investors and hedge funds own 72.79% of the company’s stock.

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.