Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $343.74 and last traded at $346.30, with a volume of 2345 shares traded. The stock had previously closed at $340.71.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The business has a fifty day moving average of $313.83. The stock has a market cap of $6.22 billion, a PE ratio of 37.21 and a beta of 1.39.

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

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Institutional Trading of Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Versor Investments LP bought a new stake in shares of Piper Sandler Companies in the 3rd quarter worth about $880,000. Victory Capital Management Inc. boosted its stake in Piper Sandler Companies by 20.6% in the 3rd quarter. Victory Capital Management Inc. now owns 15,889 shares of the financial services provider’s stock worth $4,509,000 after purchasing an additional 2,713 shares in the last quarter. Creative Planning lifted its stake in Piper Sandler Companies by 34.8% during the 3rd quarter. Creative Planning now owns 9,287 shares of the financial services provider’s stock valued at $2,636,000 after acquiring an additional 2,399 shares during the period. Moody Aldrich Partners LLC lifted its stake in Piper Sandler Companies by 14.8% during the 3rd quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider’s stock valued at $6,869,000 after acquiring an additional 3,124 shares during the period. Finally, New York State Teachers Retirement System lifted its stake in Piper Sandler Companies by 1.9% during the 2nd quarter. New York State Teachers Retirement System now owns 32,149 shares of the financial services provider’s stock valued at $7,400,000 after acquiring an additional 610 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

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.