Piper Sandler Companies (NYSE:PIPR) Sets New 1-Year High on Strong Earnings

Piper Sandler Companies (NYSE:PIPR) reached a new 52-week high during trading on Monday following a better than expected earnings announcement. The company traded as high as $198.05 and last traded at $198.75, with a volume of 1653 shares traded. The stock had previously closed at $197.16.

The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. The firm had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same quarter in the previous year, the company posted $2.35 earnings per share. The business’s revenue was up 15.5% on a year-over-year basis.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 annualized dividend and a yield of 1.21%. Piper Sandler Companies’s payout ratio is 40.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, February 28th.

Insider Transactions at Piper Sandler Companies

In other news, President Debbra L. Schoneman sold 5,000 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $184.13, for a total value of $920,650.00. Following the transaction, the president now owns 48,083 shares of the company’s stock, valued at $8,853,522.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, President Debbra L. Schoneman sold 5,000 shares of Piper Sandler Companies stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $184.13, for a total value of $920,650.00. Following the completion of the transaction, the president now owns 48,083 shares in the company, valued at approximately $8,853,522.79. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $185.03, for a total value of $1,232,669.86. Following the sale, the chief executive officer now directly owns 36,454 shares of the company’s stock, valued at $6,745,083.62. The disclosure for this sale can be found here. Insiders have sold 53,524 shares of company stock valued at $9,838,711 over the last quarter. 3.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors and hedge funds have recently bought and sold shares of PIPR. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Piper Sandler Companies by 16.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,517 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 507 shares during the last quarter. Park Avenue Securities LLC purchased a new stake in shares of Piper Sandler Companies during the 3rd quarter worth $379,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Piper Sandler Companies by 1.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 60,712 shares of the financial services provider’s stock worth $8,822,000 after purchasing an additional 615 shares during the last quarter. Victory Capital Management Inc. increased its position in Piper Sandler Companies by 0.9% during the 3rd quarter. Victory Capital Management Inc. now owns 7,775 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 70 shares in the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in Piper Sandler Companies during the 3rd quarter valued at about $1,264,000. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Stock Up 0.7 %

The business’s 50-day moving average price is $194.02. The firm has a market capitalization of $3.52 billion, a P/E ratio of 33.77 and a beta of 1.42.

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.