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

Piper Sandler Companies (NYSE:PIPR) released its quarterly earnings data on Friday. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.90, Briefing.com reports. The company had revenue of $335.29 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the firm earned $2.35 EPS.

Piper Sandler Companies Trading Up 2.7 %

NYSE PIPR traded up $5.13 during trading hours on Friday, hitting $197.16. The company’s stock had a trading volume of 153,700 shares, compared to its average volume of 91,872. Piper Sandler Companies has a 52 week low of $120.97 and a 52 week high of $202.76. The company’s 50-day simple moving average is $194.02 and its two-hundred day simple moving average is $188.73. The company has a market capitalization of $3.49 billion, a PE ratio of 33.53 and a beta of 1.42.

Piper Sandler Companies Announces Dividend

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

Analysts Set New Price Targets

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

Insider Activity at Piper Sandler Companies

In related news, CEO Chad R. Abraham sold 6,662 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the transaction, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 6,662 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $185.03, for a total value of $1,232,669.86. Following the sale, the chief executive officer now owns 36,454 shares in the company, valued at $6,745,083.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Chad R. Abraham sold 11,307 shares of the company’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 owns 24,116 shares in the company, valued at approximately $4,345,220.88. The disclosure for this sale can be found here. Insiders have sold 53,524 shares of company stock worth $9,838,711 over the last 90 days. 3.00% of the stock is owned by company insiders.

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.