Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High – What’s Next?

Piper Sandler Companies (NYSE:PIPR)’s stock price hit a new 52-week high during trading on Monday . The company traded as high as $304.07 and last traded at $299.70, with a volume of 1280 shares trading hands. The stock had previously closed at $301.10.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of research reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Saturday.

Piper Sandler Companies Price Performance

The stock has a market cap of $5.33 billion, a PE ratio of 32.02 and a beta of 1.43. The stock’s 50-day simple moving average is $322.06.

Piper Sandler Companies (NYSE:PIPR) last issued its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Sell-side analysts anticipate that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Institutional Trading of Piper Sandler Companies

A number of institutional investors have recently modified their holdings of PIPR. nVerses Capital LLC lifted its holdings in Piper Sandler Companies by 100.0% in the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after acquiring an additional 100 shares during the period. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the 3rd quarter worth approximately $77,000. CWM LLC increased its stake in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. KBC Group NV raised its holdings in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after purchasing an additional 95 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in 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 purchasing an additional 545 shares in the last quarter. 72.79% of the stock is currently owned by hedge funds and other institutional investors.

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.