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

Piper Sandler Companies (NYSE:PIPR) posted its quarterly earnings data 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 business had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. The company’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.35 earnings per share.

Piper Sandler Companies Price Performance

NYSE:PIPR traded up $5.13 during mid-day trading on Friday, reaching $197.16. The company’s stock had a trading volume of 153,700 shares, compared to its average volume of 91,872. The company’s fifty day simple moving average is $194.02 and its two-hundred day simple moving average is $188.45. Piper Sandler Companies has a twelve month low of $120.97 and a twelve month high of $202.76. The stock has a market cap of $3.49 billion, a P/E ratio of 39.91 and a beta of 1.42.

Piper Sandler Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Friday, March 1st. Piper Sandler Companies’s payout ratio is currently 48.58%.

Insiders Place Their Bets

In other news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the sale, the chief executive officer now directly owns 24,116 shares of the company’s stock, valued at approximately $4,345,220.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, President Debbra L. Schoneman sold 4,795 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the transaction, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value of $2,037,295.26. Following the completion of the transaction, the chief executive officer now directly owns 24,116 shares in the company, valued at $4,345,220.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,524 shares of company stock valued at $9,838,711. Insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.