Piper Sandler Companies (NYSE:PIPR) Hits New 1-Year High - Still a Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $288.47 and last traded at $314.01, with a volume of 1371 shares changing hands. The stock had previously closed at $313.22.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PIPR. The Goldman Sachs Group raised their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the stock a "neutral" rating in a research note on Monday, February 3rd. StockNews.com cut shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. Finally, JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Stock Performance

The company has a 50 day moving average price of $305.98 and a 200 day moving average price of $316.22. The firm has a market cap of $5.33 billion, a price-to-earnings ratio of 29.31 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, topping the consensus estimate 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 quarter last year, the firm earned $4.03 earnings per share. On average, research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.87%. Piper Sandler Companies's dividend payout ratio (DPR) is presently 25.44%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PIPR. IFP Advisors Inc grew its stake in shares of 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 valued at $43,000 after buying an additional 131 shares in the last quarter. West Oak Capital LLC grew its position 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 acquiring an additional 1,300 shares in the last quarter. Allworth Financial LP increased its stake in Piper Sandler Companies by 238.8% during the fourth 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. GAMMA Investing LLC lifted its position in shares of Piper Sandler Companies by 27.6% during the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock worth $83,000 after purchasing an additional 60 shares in the last quarter. Finally, CWM LLC lifted its position in shares of Piper Sandler Companies by 22.5% during the third quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after purchasing an additional 57 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

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.