Piper Sandler Companies (NYSE:PIPR) Reaches New 12-Month High – Here’s What Happened

Piper Sandler Companies (NYSE:PIPR)’s share price reached a new 52-week high on Monday . The stock traded as high as $300.15 and last traded at $297.10, with a volume of 574 shares traded. The stock had previously closed at $297.75.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PIPR. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a research note on Friday. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

Piper Sandler Companies Trading Down 0.2 %

The company has a market cap of $5.28 billion, a P/E ratio of 31.74 and a beta of 1.43. The business has a fifty day moving average of $329.12.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data 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. The firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. On average, equities analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Piper Sandler Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 22nd were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.88%. Piper Sandler Companies’s payout ratio is 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the stock. Coldstream Capital Management Inc. boosted its stake in Piper Sandler Companies by 2.3% during the third quarter. Coldstream Capital Management Inc. now owns 1,845 shares of the financial services provider’s stock valued at $524,000 after buying an additional 41 shares during the last quarter. Bank of Montreal Can increased its position in Piper Sandler Companies by 2.1% in the second quarter. Bank of Montreal Can now owns 2,262 shares of the financial services provider’s stock worth $524,000 after purchasing an additional 46 shares during the last quarter. Xponance Inc. lifted its position in Piper Sandler Companies by 4.6% during the second quarter. Xponance Inc. now owns 1,101 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 48 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of Piper Sandler Companies by 2.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,340 shares of the financial services provider’s stock worth $539,000 after buying an additional 54 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Piper Sandler Companies by 1.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 5,010 shares of the financial services provider’s stock valued at $1,422,000 after buying an additional 56 shares in the last quarter. 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.