Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $288.47 and last traded at $308.35, with a volume of 196700 shares. The stock had previously closed at $310.01.
The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 period in the prior year, the business posted $4.03 EPS.
Piper Sandler Companies Dividend Announcement
The business 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 $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a dividend yield of 0.83%. Piper Sandler Companies's dividend payout ratio is currently 25.44%.
Analyst Ratings Changes
Several equities research analysts have recently commented on PIPR shares. The Goldman Sachs Group boosted their price objective on Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd.
Check Out Our Latest Analysis on Piper Sandler Companies
Institutional Trading of Piper Sandler Companies
A number of hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC increased its holdings in Piper Sandler Companies by 9.2% during the fourth quarter. HighTower Advisors LLC now owns 2,496 shares of the financial services provider's stock worth $749,000 after buying an additional 211 shares during the last quarter. King Luther Capital Management Corp raised its holdings in shares of Piper Sandler Companies by 9.2% in the 4th quarter. King Luther Capital Management Corp now owns 20,395 shares of the financial services provider's stock worth $6,117,000 after purchasing an additional 1,717 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Piper Sandler Companies by 20.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,389 shares of the financial services provider's stock valued at $1,017,000 after purchasing an additional 577 shares during the last quarter. Amundi grew its holdings in Piper Sandler Companies by 194.3% during the fourth quarter. Amundi now owns 8,202 shares of the financial services provider's stock valued at $2,440,000 after purchasing an additional 5,415 shares during the period. Finally, Edgestream Partners L.P. raised its stake in shares of Piper Sandler Companies by 76.6% in the fourth quarter. Edgestream Partners L.P. now owns 18,602 shares of the financial services provider's stock valued at $5,580,000 after buying an additional 8,068 shares during the period. 72.79% of the stock is currently owned by institutional investors.
Piper Sandler Companies Stock Performance
The firm has a market capitalization of $5.57 billion, a P/E ratio of 30.64 and a beta of 1.46. The stock has a 50 day moving average of $305.09 and a 200-day moving average of $315.81.
Piper Sandler Companies Company Profile
(
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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.
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