Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month High – Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high during trading on Monday . The stock traded as high as $335.46 and last traded at $331.17, with a volume of 4486 shares traded. The stock had previously closed at $333.15.

Analyst Ratings Changes

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

Piper Sandler Companies Stock Performance

The business has a 50-day moving average price of $334.31. The company has a market capitalization of $5.86 billion, a price-to-earnings ratio of 35.06 and a beta of 1.43.

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

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Institutional Trading of Piper Sandler Companies

Hedge funds and other institutional investors have recently modified their holdings of the business. Cerity Partners LLC grew its stake in Piper Sandler Companies by 21.3% in the 3rd quarter. Cerity Partners LLC now owns 16,060 shares of the financial services provider’s stock worth $4,558,000 after buying an additional 2,819 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock worth $58,245,000 after buying an additional 2,689 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of Piper Sandler Companies in the 3rd quarter worth approximately $624,000. Citigroup Inc. lifted its holdings in shares of Piper Sandler Companies by 63.4% in the 3rd quarter. Citigroup Inc. now owns 21,496 shares of the financial services provider’s stock worth $6,101,000 after acquiring an additional 8,337 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of 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 acquiring an additional 2,713 shares during the last quarter. Institutional investors own 72.79% of the company’s stock.

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.