Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High – Here’s Why

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $288.47 and last traded at $279.16, with a volume of 3039 shares. The stock had previously closed at $282.40.

Analyst Upgrades and Downgrades

Several analysts recently commented on PIPR shares. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th. The Goldman Sachs Group downgraded Piper Sandler Companies from a “buy” rating to a “neutral” rating and set a $317.00 price objective on the stock. in a research note on Monday, January 6th. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

Piper Sandler Companies Stock Performance

The firm has a market cap of $4.95 billion, a price-to-earnings ratio of 29.74 and a beta of 1.46. The stock has a fifty day moving average price of $305.24.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $359.57 million during the quarter, compared to analysts’ expectations of $365.07 million. As a group, sell-side analysts forecast that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Friday, November 22nd. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently made changes to their positions in PIPR. West Oak Capital LLC raised its position in shares of Piper Sandler Companies by 650.0% in the fourth quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock valued at $45,000 after buying an additional 1,300 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Piper Sandler Companies in the third quarter valued at approximately $77,000. GAMMA Investing LLC raised its position in shares of Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after buying an additional 60 shares in the last quarter. CWM LLC raised its position in shares of Piper Sandler Companies by 22.5% in the third quarter. CWM LLC now owns 310 shares of the financial services provider’s stock valued at $88,000 after buying an additional 57 shares in the last quarter. Finally, KBC Group NV increased its holdings in shares of Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock worth $156,000 after buying an additional 95 shares in the last quarter. Institutional investors own 72.79% of the company’s stock.

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.