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

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high on Thursday . The stock traded as high as $376.41 and last traded at $376.13, with a volume of 71534 shares changing hands. The stock had previously closed at $360.96.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a report on Wednesday, October 8th. Zacks Research cut shares of Piper Sandler Companies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 30th. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and increased their target price for the stock from $368.00 to $386.00 in a research note on Monday, November 10th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Sunday, October 12th. Finally, Wolfe Research reissued an “outperform” rating and issued a $398.00 price target on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $392.00.

Piper Sandler Companies Trading Up 3.8%

The company has a fifty day moving average price of $343.22 and a two-hundred day moving average price of $333.40. The firm has a market capitalization of $6.63 billion, a price-to-earnings ratio of 28.21 and a beta of 1.54.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 31st. The financial services provider reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $2.96 by $0.86. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The firm had revenue of $455.31 million for the quarter, compared to the consensus estimate of $408.40 million. During the same quarter last year, the business posted $2.57 earnings per share. The firm’s revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Tuesday, November 25th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, November 25th. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 21.10%.

Insider Buying and Selling at Piper Sandler Companies

In related news, CFO Katherine Patricia Clune sold 1,367 shares of the company’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $324.69, for a total value of $443,851.23. Following the transaction, the chief financial officer directly owned 10,425 shares in the company, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Debbra L. Schoneman sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $330.33, for a total value of $825,825.00. Following the completion of the transaction, the president owned 2,896 shares of the company’s stock, valued at $956,635.68. The trade was a 46.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 11,267 shares of company stock worth $3,763,746 in the last ninety days. 2.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of PIPR. Whittier Trust Co. purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth $31,000. Danske Bank A S purchased a new stake in Piper Sandler Companies during the third quarter worth about $35,000. CENTRAL TRUST Co acquired a new stake in shares of Piper Sandler Companies during the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Piper Sandler Companies in the second quarter valued at approximately $31,000. Finally, AdvisorNet Financial Inc increased its stake in Piper Sandler Companies by 48.1% during the 2nd quarter. AdvisorNet Financial Inc now owns 114 shares of the financial services provider’s stock worth $32,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Company Profile

Piper Sandler Companies is a leading investment bank and asset management firm headquartered in Minneapolis, Minnesota. The company offers a comprehensive suite of financial services, including investment banking, institutional brokerage, public finance, and equity research. Its investment banking division advises corporate and government clients on mergers and acquisitions, capital raises, and debt financings, while its institutional brokerage arm provides trade execution and market-making services across equities and fixed income markets.

Founded through the legacy of Piper Jaffray & Co and strengthened by the 2020 combination with Sandler O’Neill & Partners, Piper Sandler traces its roots back to the late 19th century.