Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – Here’s Why

Shares of Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Monday . The stock traded as high as $325.50 and last traded at $318.92, with a volume of 6555 shares trading hands. The stock had previously closed at $318.96.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PIPR. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th.

Piper Sandler Companies Stock Up 0.2 %

The business has a 50-day moving average of $335.19. The stock has a market cap of $5.69 billion, a PE ratio of 34.10 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Research analysts anticipate 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 announced a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 22nd were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio (DPR) is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Several large investors have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in Piper Sandler Companies by 75.7% during the 3rd quarter. Tidal Investments LLC now owns 6,104 shares of the financial services provider’s stock valued at $1,732,000 after purchasing an additional 2,629 shares during the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Piper Sandler Companies during the 3rd quarter worth approximately $310,000. Coldstream Capital Management Inc. raised its stake in shares of Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock worth $524,000 after buying an additional 41 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Piper Sandler Companies by 2.0% in the third quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after buying an additional 7,344 shares during the period. Finally, Vestcor Inc boosted its stake in Piper Sandler Companies by 23.5% in the third quarter. Vestcor Inc now owns 4,537 shares of the financial services provider’s stock valued at $1,288,000 after acquiring an additional 863 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.