Piper Sandler Companies (NYSE:PIPR) Stock Price Up 4% – Time to Buy?

Piper Sandler Companies (NYSE:PIPR) shares rose 4% on Tuesday . The stock traded as high as $288.47 and last traded at $309.33. Approximately 154,087 shares were traded during trading, an increase of 71% from the average daily volume of 90,364 shares. The stock had previously closed at $297.52.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PIPR. The Goldman Sachs Group lifted their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd.

Piper Sandler Companies Stock Up 1.1 %

The firm’s fifty day simple moving average is $308.44 and its 200-day simple moving average is $315.02. The company has a market cap of $5.50 billion, a PE ratio of 30.27 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, January 31st. 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 last year, the company posted $4.03 EPS. On average, analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date of this dividend is Tuesday, March 4th. Piper Sandler Companies’s payout ratio is currently 25.44%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PIPR. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Piper Sandler Companies by 26.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,146 shares of the financial services provider’s stock worth $13,242,000 after buying an additional 9,141 shares in the last quarter. Vident Advisory LLC lifted its stake in shares of Piper Sandler Companies by 7.1% during the fourth quarter. Vident Advisory LLC now owns 15,765 shares of the financial services provider’s stock valued at $4,729,000 after buying an additional 1,040 shares during the period. Systematic Financial Management LP grew its stake in Piper Sandler Companies by 1.8% in the 4th quarter. Systematic Financial Management LP now owns 199,842 shares of the financial services provider’s stock worth $59,943,000 after acquiring an additional 3,500 shares during the period. ProShare Advisors LLC raised its holdings in Piper Sandler Companies by 44.8% in the 4th quarter. ProShare Advisors LLC now owns 5,204 shares of the financial services provider’s stock valued at $1,561,000 after acquiring an additional 1,611 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its stake in shares of Piper Sandler Companies by 3.3% during the 4th quarter. Quantinno Capital Management LP now owns 2,730 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 88 shares during the period. 72.79% of the stock is currently owned by hedge funds and other 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.