Piper Sandler Companies (NYSE:PIPR) Reaches New 52-Week High – What’s Next?

Piper Sandler Companies (NYSE:PIPR) shares reached a new 52-week high on Monday . The company traded as high as $346.91 and last traded at $346.35, with a volume of 1152 shares. The stock had previously closed at $342.99.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on PIPR. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

Piper Sandler Companies Price Performance

The stock has a market capitalization of $6.16 billion, a PE ratio of 36.64 and a beta of 1.39. The business has a fifty day moving average price of $324.46.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.04. The company had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. On average, equities research analysts expect that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 22nd will be given a $0.65 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $2.60 annualized dividend and a dividend yield of 0.75%. Piper Sandler Companies’s dividend payout ratio is presently 27.78%.

Hedge Funds Weigh In On Piper Sandler Companies

A number of large investors have recently bought and sold shares of PIPR. State Street Corp raised its stake in Piper Sandler Companies by 0.3% in the 3rd quarter. State Street Corp now owns 682,430 shares of the financial services provider’s stock valued at $193,680,000 after acquiring an additional 2,137 shares during the period. FMR LLC raised its stake in Piper Sandler Companies by 49.0% in the 3rd quarter. FMR LLC now owns 625,048 shares of the financial services provider’s stock valued at $177,395,000 after acquiring an additional 205,584 shares during the period. Geode Capital Management LLC raised its stake in Piper Sandler Companies by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 377,586 shares of the financial services provider’s stock valued at $107,184,000 after acquiring an additional 7,344 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Piper Sandler Companies by 1.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 205,226 shares of the financial services provider’s stock valued at $58,245,000 after acquiring an additional 2,689 shares during the period. Finally, Systematic Financial Management LP raised its stake in Piper Sandler Companies by 3.4% in the 3rd quarter. Systematic Financial Management LP now owns 196,342 shares of the financial services provider’s stock valued at $55,724,000 after acquiring an additional 6,507 shares during the period. 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.