Piper Sandler Companies (NYSE:PIPR) Reaches New 1-Year High on Earnings Beat

Piper Sandler Companies (NYSE:PIPR - Get Free Report) shares reached a new 52-week high during 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 changing hands. The stock had previously closed at $310.01.

The financial services provider reported $4.80 earnings per share for the quarter, beating analysts' consensus estimates 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 last year, the business posted $4.03 EPS.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies's dividend payout ratio (DPR) is 25.44%.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of recent analyst reports. StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a report on Monday. Finally, The Goldman Sachs Group raised their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a "neutral" rating in a report on Monday.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc grew its holdings in shares of Piper Sandler Companies by 2,183.3% during the fourth quarter. IFP Advisors Inc now owns 137 shares of the financial services provider's stock worth $43,000 after purchasing an additional 131 shares during the last quarter. West Oak Capital LLC boosted its position in shares of 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 purchasing an additional 1,300 shares during the period. Allworth Financial LP grew its stake in Piper Sandler Companies by 238.8% during the 4th quarter. Allworth Financial LP now owns 227 shares of the financial services provider's stock worth $70,000 after buying an additional 160 shares during the last quarter. USA Financial Formulas acquired a new position in Piper Sandler Companies during the third quarter worth approximately $77,000. Finally, GAMMA Investing LLC increased its position in 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 buying an additional 60 shares during the period. 72.79% of the stock is owned by hedge funds and other institutional investors.

Piper Sandler Companies Price Performance

The company has a market cap of $5.68 billion, a PE ratio of 31.27 and a beta of 1.46. The stock has a 50 day simple moving average of $304.59 and a two-hundred day simple moving average of $314.98.

About Piper Sandler Companies

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.