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

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $288.47 and last traded at $288.58, with a volume of 1873 shares. The stock had previously closed at $289.62.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PIPR. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. The Goldman Sachs Group boosted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Trading Up 0.9 %

The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 28.60 and a beta of 1.46. The stock’s fifty day moving average price is $303.20.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping 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 quarter in the previous year, the company earned $4.03 EPS. On average, sell-side analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 25.44%.

Institutional Trading of Piper Sandler Companies

Institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in Piper Sandler Companies in the 4th quarter worth approximately $68,696,000. FMR LLC lifted its position in Piper Sandler Companies by 49.0% during 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 period. Invesco Ltd. lifted its holdings in Piper Sandler Companies by 17.2% in the fourth quarter. Invesco Ltd. now owns 697,824 shares of the financial services provider’s stock valued at $209,312,000 after acquiring an additional 102,426 shares during the period. Fred Alger Management LLC acquired a new position in Piper Sandler Companies in the 3rd quarter worth about $14,645,000. Finally, Vanguard Group Inc. raised its holdings in Piper Sandler Companies by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 2,063,590 shares of the financial services provider’s stock worth $618,974,000 after purchasing an additional 31,400 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 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.