Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High – Should You Buy?

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high during trading on Monday . The company traded as high as $304.07 and last traded at $299.70, with a volume of 1280 shares changing hands. The stock had previously closed at $301.10.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent analyst reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday.

Piper Sandler Companies Stock Performance

The firm’s fifty day simple moving average is $322.06. The firm has a market cap of $5.33 billion, a PE ratio of 32.02 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Equities analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.87%. Piper Sandler Companies’s dividend payout ratio is currently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of PIPR. nVerses Capital LLC grew its position in Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after purchasing an additional 100 shares during the last quarter. USA Financial Formulas bought a new stake in Piper Sandler Companies in the 3rd quarter worth about $77,000. CWM LLC raised its position in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after buying an additional 57 shares during the last quarter. KBC Group NV lifted its stake in Piper Sandler Companies by 20.9% during the 3rd quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after acquiring an additional 95 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of Piper Sandler Companies by 486.6% during the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 545 shares during the last quarter. Hedge funds and other 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.