Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High – Here’s Why

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The stock traded as high as $288.47 and last traded at $279.16, with a volume of 3039 shares traded. The stock had previously closed at $282.40.

Analyst Upgrades and Downgrades

PIPR has been the subject of several research analyst reports. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. Finally, The Goldman Sachs Group lowered Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 target price for the company. in a research note on Monday, January 6th.

Piper Sandler Companies Trading Down 1.4 %

The stock has a fifty day moving average of $305.24. The stock has a market capitalization of $4.95 billion, a P/E ratio of 29.74 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.04. The company had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Coldstream Capital Management Inc. boosted its stake in shares of Piper Sandler Companies by 2.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after acquiring an additional 41 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Piper Sandler Companies by 2.1% during the 2nd quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. raised its holdings in shares of Piper Sandler Companies by 4.6% in the 2nd quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock worth $253,000 after buying an additional 48 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after buying an additional 54 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its holdings in shares of Piper Sandler Companies by 1.1% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after buying an additional 56 shares in the last quarter. 72.79% of the stock is 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.