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

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high on Tuesday . The stock traded as high as $288.47 and last traded at $306.82, with a volume of 79700 shares trading hands. The stock had previously closed at $300.62.

Analyst Upgrades and Downgrades

PIPR has been the topic of several research reports. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Monday, February 3rd. The Goldman Sachs Group upped their target price 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. Finally, StockNews.com downgraded shares of 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 firm has a 50 day moving average price of $308.44 and a two-hundred day moving average price of $315.02. The company has a market capitalization of $5.50 billion, a P/E ratio of 30.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping 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 company earned $4.03 earnings per share. On average, equities analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders 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 yield of 0.84%. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 25.44%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. IFP Advisors Inc boosted its stake in Piper Sandler Companies by 2,183.3% in the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 131 shares in the last quarter. West Oak Capital LLC grew its stake in shares of Piper Sandler Companies by 650.0% during the fourth 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 during the last quarter. Lazard Asset Management LLC bought a new position in Piper Sandler Companies in the 4th quarter worth approximately $51,000. Allworth Financial LP lifted its holdings 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 buying an additional 160 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake 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. 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.