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

Piper Sandler Companies (NYSE:PIPR)’s share price reached a new 52-week high during trading on Monday . The company traded as high as $288.47 and last traded at $314.01, with a volume of 1371 shares traded. The stock had previously closed at $313.22.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, January 7th.

Piper Sandler Companies Stock Performance

The stock has a market cap of $5.58 billion, a PE ratio of 30.73 and a beta of 1.46. The company has a fifty day moving average of $305.09.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the previous year, the firm earned $4.03 EPS. On average, sell-side analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a yield of 0.83%. Piper Sandler Companies’s dividend payout ratio is presently 25.44%.

Hedge Funds Weigh In On Piper Sandler Companies

Several institutional investors have recently made changes to their positions in PIPR. IFP Advisors Inc raised its stake in Piper Sandler Companies by 2,183.3% during the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 131 shares during the period. West Oak Capital LLC grew its stake in shares of Piper Sandler Companies by 650.0% in the 4th quarter. West Oak Capital LLC now owns 1,500 shares of the financial services provider’s stock worth $45,000 after buying an additional 1,300 shares in the last quarter. Allworth Financial LP increased 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 worth $70,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Piper Sandler Companies by 27.6% during the 4th quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider’s stock valued at $83,000 after purchasing an additional 60 shares during the last quarter. Finally, CWM LLC raised its stake 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 acquiring an additional 57 shares during the period. 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.