JMP Securities assumed coverage on shares of Piper Jaffray Companies (NYSE:PJC) in a research note issued to investors on Tuesday, November 7th, MarketBeat reports. The firm issued a market perform rating on the financial services provider’s stock.
Several other analysts also recently weighed in on PJC. Keefe, Bruyette & Woods raised Piper Jaffray Companies from a market perform rating to an outperform rating in a report on Monday, October 30th. Desjardins raised Piper Jaffray Companies from a sell rating to a hold rating in a report on Thursday, October 5th. Finally, BidaskClub downgraded Piper Jaffray Companies from a sell rating to a strong sell rating in a report on Tuesday, August 22nd. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. Piper Jaffray Companies currently has an average rating of Hold and a consensus target price of $27.79.
Piper Jaffray Companies (PJC) traded down $0.55 during mid-day trading on Tuesday, reaching $74.65. The company’s stock had a trading volume of 93,200 shares, compared to its average volume of 101,820. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.15 and a current ratio of 1.48. The firm has a market capitalization of $1,150.00, a PE ratio of 10.59 and a beta of 1.56. Piper Jaffray Companies has a one year low of $52.75 and a one year high of $81.85.
Piper Jaffray Companies (NYSE:PJC) last released its earnings results on Thursday, October 26th. The financial services provider reported $2.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $1.07. The firm had revenue of $240.57 million during the quarter. Piper Jaffray Companies had a positive return on equity of 11.11% and a negative net margin of 6.30%.
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Piper Jaffray Companies declared that its Board of Directors has authorized a share repurchase program on Thursday, August 10th that allows the company to buyback $150.00 million in outstanding shares. This buyback authorization allows the financial services provider to buy up to 17.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 29th will be paid a $0.3125 dividend. This represents a $1.25 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date is Tuesday, November 28th. Piper Jaffray Companies’s payout ratio is currently -29.90%.
Several institutional investors have recently modified their holdings of PJC. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Piper Jaffray Companies by 365.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 1,823 shares of the financial services provider’s stock worth $108,000 after buying an additional 1,431 shares during the period. SG Americas Securities LLC acquired a new stake in Piper Jaffray Companies in the 1st quarter valued at $123,000. Farmers & Merchants Investments Inc. increased its holdings in Piper Jaffray Companies by 93.0% in the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,090 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 1,007 shares in the last quarter. Creative Planning increased its holdings in Piper Jaffray Companies by 9.2% in the 2nd quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 177 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its holdings in Piper Jaffray Companies by 78.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock valued at $167,000 after purchasing an additional 1,230 shares in the last quarter. 66.04% of the stock is currently owned by institutional investors.
Piper Jaffray Companies Company Profile
Piper Jaffray Companies is an investment bank and asset management company. The Company’s segments include Capital Markets and Asset Management. The Capital Markets segment provides investment banking and institutional sales, trading and research services for various equity and fixed income products.
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