Piper Sandler Companies (NYSE:PIPR) Trading 4% Higher – Still a Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) were up 4% on Tuesday . The stock traded as high as $288.47 and last traded at $309.33. Approximately 154,087 shares changed hands during trading, an increase of 71% from the average daily volume of 90,364 shares. The stock had previously closed at $297.52.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Up 1.1 %

The firm has a fifty day moving average of $308.44 and a 200-day moving average of $315.02. The firm has a market cap of $5.50 billion, a P/E ratio of 30.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results 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 last year, the business posted $4.03 EPS. On average, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s dividend payout ratio is currently 25.44%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PIPR. IFP Advisors Inc grew its holdings 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 purchasing an additional 131 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of Piper Sandler Companies in the fourth quarter valued at approximately $51,000. Allworth Financial LP boosted its stake in shares of Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 160 shares during the period. GAMMA Investing LLC increased its holdings in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock worth $83,000 after acquiring an additional 60 shares during the last quarter. Finally, CWM LLC increased its holdings in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.