Mon Sep 23 15:08:31 UTC 2024: ## Piper Sandler Companies Hits New 52-Week High, Driven by Strong Earnings
**New York, NY (MarketBeat News) -** Shares of Piper Sandler Companies (NYSE: PIPR) surged to a new 52-week high on Monday, reaching $287.90. The financial services provider’s strong performance was attributed to its recent impressive earnings report, which saw the company exceed analysts’ expectations.
Piper Sandler Companies reported earnings per share of $2.52 for the quarter ending August 2nd, topping analyst estimates of $2.26 by $0.26. Revenue for the quarter came in at $357 million, surpassing analyst expectations of $338.90 million. The company also announced an increased quarterly dividend, paying shareholders $0.65, up from the previous $0.60.
The company’s strong financial performance has attracted the attention of institutional investors, with several funds increasing their holdings in PIPR. Notably, Bank of Montreal Can, Xponance Inc., Commonwealth Equity Services LLC, Oliver Luxxe Assets LLC, and Parallel Advisors LLC all boosted their stakes in the company.
Despite the positive news, JMP Securities maintained a “market perform” rating on shares of Piper Sandler Companies, citing a more cautious outlook.
While insiders have recently sold some stock, the company remains financially sound, with institutional investors owning 72.79% of the shares.
Piper Sandler Companies offers a range of financial services, including investment banking, institutional sales, trading, research, and advisory services. The company serves corporations, private equity groups, public and non-profit entities, and institutional investors worldwide.
First Piper 