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

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

Analyst Ratings Changes

Several research firms recently issued reports on PIPR. The Goldman Sachs Group raised their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd.

Piper Sandler Companies Trading Up 1.1 %

The stock has a market capitalization of $5.50 billion, a PE ratio of 30.27 and a beta of 1.46. The firm’s 50-day simple moving average is $308.44 and its two-hundred day simple moving average is $315.02.

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

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.84%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Institutional Trading of Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC boosted its holdings in Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after acquiring an additional 57 shares during the period. Creative Planning increased its position in Piper Sandler Companies by 34.8% in the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock worth $2,636,000 after buying an additional 2,399 shares during the period. Blue Trust Inc. lifted its holdings in shares of Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after buying an additional 545 shares during the last quarter. Raymond James & Associates boosted its position in shares of Piper Sandler Companies by 5.3% in the third quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider’s stock valued at $8,323,000 after acquiring an additional 1,484 shares during the period. Finally, Moody Aldrich Partners LLC grew its stake in shares of Piper Sandler Companies by 14.8% in the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock worth $6,869,000 after acquiring an additional 3,124 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.