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

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as $304.07 and last traded at $299.70, with a volume of 1280 shares traded. The stock had previously closed at $301.10.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Saturday.

Piper Sandler Companies Trading Down 0.5 %

The company has a fifty day moving average of $322.06. The firm has a market capitalization of $5.33 billion, a P/E ratio of 32.02 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.04. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. The business had revenue of $359.57 million for the quarter, compared to the consensus estimate of $365.07 million. As a group, equities analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were given a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.87%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 27.78%.

Institutional Trading of Piper Sandler Companies

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC lifted its position in shares of Piper Sandler Companies by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 200 shares of the financial services provider’s stock valued at $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas purchased a new stake in Piper Sandler Companies in the 3rd quarter worth approximately $77,000. CWM LLC raised its stake in Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider’s stock worth $88,000 after acquiring an additional 57 shares during the period. KBC Group NV lifted its holdings in Piper Sandler Companies by 20.9% during the third quarter. KBC Group NV now owns 550 shares of the financial services provider’s stock valued at $156,000 after purchasing an additional 95 shares in the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Piper Sandler Companies by 486.6% in the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 545 shares during the period. Hedge funds and other 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.