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

Piper Sandler Companies (NYSE:PIPR) announced its earnings results on Friday. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.90, Briefing.com reports. The firm had revenue of $335.29 million during 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 firm’s revenue for the quarter was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.35 EPS.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $197.16 on Friday. Piper Sandler Companies has a one year low of $120.97 and a one year high of $202.76. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 33.53 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 $188.73.

Piper Sandler Companies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were issued a $0.60 dividend. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.22%. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 205 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the transaction, the president now owns 16,935 shares in the company, valued at $3,218,496.75. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 205 shares of Piper Sandler Companies stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the transaction, the president now directly owns 16,935 shares of the company’s stock, valued at $3,218,496.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan J. Doyle sold 2,013 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the completion of the sale, the insider now directly owns 166,214 shares in the company, valued at approximately $29,883,615.06. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,524 shares of company stock valued at $9,838,711. 3.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

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

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.