Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High Following Better-Than-Expected Earnings

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $288.47 and last traded at $308.35, with a volume of 196700 shares. The stock had previously closed at $310.01.

The financial services provider reported $4.80 EPS 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 last year, the company earned $4.03 EPS.

Piper Sandler Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.81%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s payout ratio is presently 25.44%.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Piper Sandler Companies

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Illinois Municipal Retirement Fund boosted its holdings in shares of Piper Sandler Companies by 3.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 8,935 shares of the financial services provider’s stock worth $2,680,000 after purchasing an additional 320 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Piper Sandler Companies during the fourth quarter worth approximately $523,000. IFP Advisors Inc boosted its stake in Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after buying an additional 131 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in Piper Sandler Companies by 13.3% in the 4th quarter. Handelsbanken Fonder AB now owns 4,272 shares of the financial services provider’s stock valued at $1,281,000 after buying an additional 500 shares in the last quarter. Finally, Private Wealth Partners LLC acquired a new stake in shares of Piper Sandler Companies in the 4th quarter worth $664,000. Institutional investors and hedge funds own 72.79% of the company’s stock.

Piper Sandler Companies Stock Performance

The business has a 50 day simple moving average of $302.86 and a 200-day simple moving average of $314.09. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 31.29 and a beta of 1.46.

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.