Piper Sandler Companies (NYSE:PIPR) Shares Up 4% - Time to Buy?

Piper Sandler Companies (NYSE:PIPR - Get Free Report)'s stock price shot up 4% on Tuesday . The stock traded as high as $288.47 and last traded at $309.33. 154,087 shares were traded during trading, an increase of 71% from the average session volume of 90,364 shares. The stock had previously closed at $297.52.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a research note on Monday, February 3rd. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com cut 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 Down 3.4 %

The company has a market cap of $5.12 billion, a P/E ratio of 28.18 and a beta of 1.46. The firm has a fifty day moving average price of $308.84 and a 200 day moving average price of $313.95.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share for the quarter, beating 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 previous year, the firm posted $4.03 earnings per share. On average, sell-side analysts anticipate that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently announced 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. 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 presently 25.44%.

Institutional Investors Weigh In On Piper Sandler Companies

Institutional investors and hedge funds have recently modified their holdings of the business. CWM LLC lifted its stake in shares of 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 during the period. Creative Planning increased its position in shares of Piper Sandler Companies by 34.8% during the third quarter. Creative Planning now owns 9,287 shares of the financial services provider's stock worth $2,636,000 after acquiring an additional 2,399 shares in the last quarter. Blue Trust Inc. lifted its stake in Piper Sandler Companies by 486.6% in the 3rd quarter. Blue Trust Inc. now owns 657 shares of the financial services provider's stock valued at $186,000 after acquiring an additional 545 shares in the last quarter. Raymond James & Associates increased its stake in Piper Sandler Companies by 5.3% in the 3rd quarter. Raymond James & Associates now owns 29,325 shares of the financial services provider's stock valued at $8,323,000 after buying an additional 1,484 shares during the last quarter. Finally, Moody Aldrich Partners LLC boosted its position in Piper Sandler Companies by 14.8% during the third quarter. Moody Aldrich Partners LLC now owns 24,202 shares of the financial services provider's stock valued at $6,869,000 after purchasing an additional 3,124 shares during 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.