Piper Sandler Companies (NYSE:PIPR) Hits New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com cut shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Price Performance

The company has a market cap of $6.22 billion, a P/E ratio of 37.21 and a beta of 1.39. The business’s 50 day moving average is $313.83.

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

Piper Sandler Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 22nd will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Coldstream Capital Management Inc. lifted its stake in Piper Sandler Companies by 2.3% in the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after buying an additional 41 shares during the last quarter. Bank of Montreal Can boosted its holdings in shares of Piper Sandler Companies by 2.1% in the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after buying an additional 46 shares during the period. Xponance Inc. grew its holdings in shares of Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after buying an additional 48 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Piper Sandler Companies by 2.4% in the second quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after purchasing an additional 54 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Piper Sandler Companies by 1.1% in the third quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock worth $1,422,000 after purchasing 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.