Piper Sandler Companies (NYSE:PIPR) Shares Gap Up Following Strong Earnings

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price gapped up before the market opened on Friday following a stronger than expected earnings report. The stock had previously closed at $310.01, but opened at $327.00. Piper Sandler Companies shares last traded at $327.18, with a volume of 12,795 shares changing hands.

The financial services provider reported $4.80 earnings per share (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 quarter in the previous year, the firm earned $4.03 EPS.

Piper Sandler Companies Dividend Announcement

The company 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 of this dividend is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.81%. Piper Sandler Companies's dividend payout ratio (DPR) is 25.44%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PIPR shares. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday. The Goldman Sachs Group boosted their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a report on Monday. Finally, StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a report on Tuesday, January 7th.

Institutional Investors Weigh In On Piper Sandler Companies

A number of large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc grew its holdings in Piper Sandler Companies by 2,183.3% during the 4th 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 during the last quarter. Allworth Financial LP raised its position in shares of Piper Sandler Companies by 238.8% in 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 period. USA Financial Formulas acquired a new position in shares of Piper Sandler Companies in the 3rd quarter valued at about $77,000. GAMMA Investing LLC grew its stake 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. Finally, CWM LLC increased its holdings in Piper Sandler Companies by 22.5% in the 3rd quarter. CWM LLC now owns 310 shares of the financial services provider's stock valued at $88,000 after purchasing an additional 57 shares in the last quarter. 72.79% of the stock is owned by institutional investors and hedge funds.

Piper Sandler Companies Trading Up 1.0 %

The stock has a market capitalization of $5.69 billion, a price-to-earnings ratio of 31.29 and a beta of 1.46. The firm has a 50-day moving average of $302.03 and a 200 day moving average of $314.01.

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.