Piper Sandler currently trades at $352.06 and has been a dream stock for shareholders. It’s returned 409% since September 2020, blowing past the S&P 500’s 101% gain. The company has also beaten the index over the past six months as its stock price is up 30.9% thanks to its solid quarterly results.

Is now still a good time to buy PIPR? Or is this a case of a company fueled by heightened investor enthusiasm? Find out in our full research report, it’s free.

Why Do Investors Watch PIPR Stock?

Tracing its roots back to 1895 and rebranded from Piper Jaffray in 2020, Piper Sandler (NYSE: PIPR) is an investment bank that provides advisory services, capital raising, institutional brokerage, and research for corporations, governments, and institutional investors.

Three Positive Attributes:

1. EPS Moving Up Steadily

Analyzing the long-term change in earnings per share (EPS) shows whether a company's incremental sales were profitable – for example, revenue could be inflated through excessive spending on advertising and promotions.

Piper Sandler’s EPS grew at a decent 12.7% compounded annual growth rate over the last five years, higher than its 9.4% annualized revenue growth. This tells us the company became more profitable on a per-share basis as it expanded.

2. Steady Increase in TBVPS Highlights Solid Asset Growth

Tangible book value per share (TBVPS) serves as a key indicator of a financial institution’s strength, representing the hard assets available to shareholders after removing intangible assets that could evaporate during economic distress.

Piper Sandler’s TBVPS increased by 13.2% annually over the last five years, and although its annualized growth has recently decelerated a bit to 10.3% over the last two years (from $40.14 to $48.80 per share), we still think its performance was solid.

3. Market-Beating ROE Showcases Attractive Growth Opportunities

Return on equity, or ROE, quantifies bank profitability relative to shareholder equity - an essential capital source for these institutions. Over extended periods, superior ROE performance drives faster shareholder wealth compounding through reinvestment, share repurchases, and dividend growth.

Over the last five years, Piper Sandler has averaged an ROE of 14.3%, healthy for a company operating in a sector where the average shakes out around 10% and those putting up 25%+ are greatly admired. This shows Piper Sandler has a decent competitive moat.

Final Judgment

There are definitely things to like about Piper Sandler, and with its shares topping the market in recent months, the stock trades at 23.5× forward P/E (or $352.06 per share). Is now a good time to initiate a position? See for yourself in our comprehensive research report, it’s free.

High-Quality Stocks for All Market Conditions

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