Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High After Earnings Beat

Piper Sandler Companies (NYSE:PIPR)’s share price hit a new 52-week high during trading on Monday following a stronger than expected earnings report. The company traded as high as $288.47 and last traded at $308.35, with a volume of 196700 shares changing hands. The stock had previously closed at $310.01.

The financial services provider reported $4.80 EPS for the quarter, beating 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 prior year, the business posted $4.03 EPS.

Piper Sandler Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be given a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.81%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in PIPR. IFP Advisors Inc increased its stake in shares of 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 worth $43,000 after acquiring an additional 131 shares during the period. West Oak Capital LLC boosted its holdings in 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 valued at $45,000 after purchasing an additional 1,300 shares in the last quarter. Allworth Financial LP increased its position in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider’s stock worth $70,000 after purchasing an additional 160 shares during the period. USA Financial Formulas purchased a new position in shares of Piper Sandler Companies during the 3rd quarter worth approximately $77,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Piper Sandler Companies by 27.6% in the 4th 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 period. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Price Performance

The stock has a 50 day moving average of $302.86 and a two-hundred day moving average of $314.09. The stock has a market capitalization of $5.69 billion, a PE ratio of 31.29 and a beta of 1.46.

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.