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

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

Analyst Upgrades and Downgrades

PIPR has been the topic of several research reports. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group boosted their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday, February 3rd.

Piper Sandler Companies Trading Up 0.9 %

The stock has a 50 day moving average price of $303.20. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 28.60 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company posted $4.03 EPS. As a group, equities analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.89%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc lifted its stake in shares of Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares in the last quarter. West Oak Capital LLC lifted its stake in Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 1,300 shares in the last quarter. Park Square Financial Group LLC purchased a new stake in Piper Sandler Companies in the 4th quarter worth $45,000. Lazard Asset Management LLC purchased a new stake in shares of Piper Sandler Companies during the 4th quarter worth approximately $51,000. Finally, Allworth Financial LP raised its position 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 valued at $70,000 after buying an additional 160 shares in the last quarter. Institutional investors 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.