Piper Sandler Companies (NYSE:PIPR) Posts Earnings Results, Beats Expectations By $0.90 EPS

Piper Sandler Companies (NYSE:PIPR) released its quarterly earnings results on Friday. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.90, Briefing.com reports. The business had revenue of $335.29 million for the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The business’s revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.35 EPS.

Piper Sandler Companies Stock Up 2.7 %

NYSE PIPR traded up $5.13 on Friday, hitting $197.16. 153,700 shares of the stock were exchanged, compared to its average volume of 91,872. Piper Sandler Companies has a fifty-two week low of $120.97 and a fifty-two week high of $202.76. The company has a market cap of $3.49 billion, a PE ratio of 39.91 and a beta of 1.42. The company has a 50-day moving average price of $194.02 and a 200-day moving average price of $188.45.

Piper Sandler Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies’s dividend payout ratio (DPR) is presently 48.58%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th. StockNews.com upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Insiders Place Their Bets

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the transaction, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Jonathan J. Doyle sold 2,013 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $179.79, for a total value of $361,917.27. Following the completion of the transaction, the insider now owns 166,214 shares in the company, valued at approximately $29,883,615.06. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Debbra L. Schoneman sold 4,795 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the transaction, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock worth $9,838,711 in the last 90 days. Corporate insiders own 3.00% 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.