Piper Sandler Companies (NYSE:PIPR) Hits New 12-Month High - Should You Buy?

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. The Goldman Sachs Group increased their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a report 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 of $308.16 and a 200-day moving average of $313.31. The firm has a market capitalization of $5.12 billion, a P/E ratio of 28.18 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last issued its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS 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 period in the prior year, the business earned $4.03 EPS. Equities analysts anticipate that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Piper Sandler Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio (DPR) is 25.44%.

Institutional Trading of Piper Sandler Companies

Several large investors have recently modified their holdings of the business. IFP Advisors Inc lifted its holdings in Piper Sandler Companies by 2,183.3% in the 4th quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after buying an additional 131 shares during the period. West Oak Capital LLC raised its holdings 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 acquiring an additional 1,300 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Piper Sandler Companies during the fourth quarter valued at approximately $51,000. Allworth Financial LP lifted its stake in Piper Sandler Companies by 238.8% in the fourth quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after acquiring an additional 160 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Piper Sandler Companies by 27.6% in the fourth quarter. GAMMA Investing LLC now owns 277 shares of the financial services provider's stock valued at $83,000 after acquiring an additional 60 shares in the last quarter. 72.79% of the stock is 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.