Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month High – Should You Buy?

Shares of Piper Sandler Companies (NYSE:PIPR) hit a new 52-week high on Monday . The company traded as high as $288.47 and last traded at $290.50, with a volume of 818 shares traded. The stock had previously closed at $288.83.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PIPR shares. The Goldman Sachs Group lifted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research report on Monday, February 3rd. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.

Piper Sandler Companies Stock Down 0.1 %

The stock has a market cap of $5.13 billion, a P/E ratio of 28.21 and a beta of 1.46. The company’s 50-day moving average is $308.16.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same quarter last year, the firm earned $4.03 EPS. On average, equities analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a dividend of $0.65 per share. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. IFP Advisors Inc raised its stake in Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock valued at $43,000 after buying an additional 131 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Piper Sandler Companies during the fourth quarter valued at $51,000. Allworth Financial LP raised its stake in Piper Sandler Companies by 238.8% during the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock valued at $70,000 after buying an additional 160 shares during the last quarter. GAMMA Investing LLC raised its stake in Piper Sandler Companies by 27.6% during 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 during the last quarter. Finally, CWM LLC raised its stake in Piper Sandler Companies by 22.5% during 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 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.