Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – What’s Next?

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $346.91 and last traded at $346.35, with a volume of 1152 shares traded. The stock had previously closed at $342.99.

Wall Street Analysts Forecast Growth

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

Piper Sandler Companies Stock Up 1.0 %

The stock’s 50 day moving average price is $324.46. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

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

Piper Sandler Companies Announces Dividend

The firm also recently disclosed 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 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend is Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Several large investors have recently bought and sold shares of the company. Coldstream Capital Management Inc. raised its position 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 purchasing an additional 41 shares during the last quarter. Bank of Montreal Can raised its position in 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 valued at $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. raised its position in Piper Sandler Companies by 4.6% in the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 48 shares during the last quarter. Commonwealth Equity Services LLC raised its position in 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 valued at $539,000 after purchasing an additional 54 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in 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 valued at $1,422,000 after purchasing an additional 56 shares during the last quarter. 72.79% of the stock is currently owned by 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.