Piper Sandler Companies (NYSE:PIPR) Sets New 12-Month High - Here's Why

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares hit a new 52-week high during trading on Monday . The stock traded as high as $304.07 and last traded at $299.70, with a volume of 1280 shares traded. The stock had previously closed at $301.10.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. JMP Securities restated a "market perform" rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Saturday.

Piper Sandler Companies Trading Down 1.0 %

The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 31.84 and a beta of 1.43. The company's 50 day moving average is $320.09 and its 200-day moving average is $309.58.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, topping analysts' consensus estimates 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. Research analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 22nd were issued a dividend of $0.65 per share. The ex-dividend date was Friday, November 22nd. This represents a $2.60 annualized dividend and a yield of 0.87%. Piper Sandler Companies's payout ratio is currently 27.78%.

Institutional Investors Weigh In On Piper Sandler Companies

A number of hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC grew its stake in Piper Sandler Companies by 100.0% during the second quarter. nVerses Capital LLC now owns 200 shares of the financial services provider's stock worth $46,000 after buying an additional 100 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Piper Sandler Companies during the 3rd quarter worth approximately $77,000. CWM LLC boosted its position in shares of Piper Sandler Companies by 22.5% during the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock worth $88,000 after acquiring an additional 57 shares in the last quarter. KBC Group NV increased its stake in Piper Sandler Companies by 20.9% in the third quarter. KBC Group NV now owns 550 shares of the financial services provider's stock valued at $156,000 after acquiring an additional 95 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Piper Sandler Companies by 486.6% during the third quarter. Blue Trust Inc. now owns 657 shares of the financial services provider's stock valued at $186,000 after purchasing an additional 545 shares in the last quarter. Institutional investors and hedge funds 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.