Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High – Time to Buy?

Piper Sandler Companies (NYSE:PIPR)’s stock price reached a new 52-week high on Monday . The stock traded as high as $346.91 and last traded at $346.35, with a volume of 1152 shares changing hands. The stock had previously closed at $342.99.

Analyst Ratings Changes

Several brokerages have recently commented on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Stock Up 1.0 %

The stock has a 50-day moving average of $324.46. The company has a market cap of $6.16 billion, a price-to-earnings ratio of 36.64 and a beta of 1.39.

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

Piper Sandler Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.75%. Piper Sandler Companies’s payout ratio is 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC lifted its holdings in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock worth $177,395,000 after buying an additional 205,584 shares during the period. Fred Alger Management LLC purchased a new stake in Piper Sandler Companies in the third quarter worth $14,645,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Piper Sandler Companies in the second quarter worth $10,139,000. Millennium Management LLC grew its stake in Piper Sandler Companies by 66.0% in the second quarter. Millennium Management LLC now owns 77,804 shares of the financial services provider’s stock worth $17,908,000 after purchasing an additional 30,942 shares during the period. Finally, Nicholas Investment Partners LP purchased a new stake in Piper Sandler Companies in the second quarter worth $5,950,000. 72.79% of the stock is currently owned by institutional investors.

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.