Piper Sandler Companies (NYSE:PIPR) Announces Quarterly Earnings Results

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

Piper Sandler Companies Trading Up 2.7 %

Shares of NYSE:PIPR traded up $5.13 during midday trading on Friday, hitting $197.16. The company had a trading volume of 153,700 shares, compared to its average volume of 91,872. Piper Sandler Companies has a 12 month low of $120.97 and a 12 month high of $202.76. The firm has a fifty day simple moving average of $194.02 and a 200 day simple moving average of $188.45. The stock has a market cap of $3.49 billion, a price-to-earnings ratio of 39.91 and a beta of 1.42.

Piper Sandler Companies Dividend Announcement

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

Insider Buying and Selling

In other news, President Debbra L. Schoneman sold 205 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the completion of the sale, the president now directly owns 16,935 shares of the company’s stock, valued at approximately $3,218,496.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, 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 value of $914,502.40. Following the completion of the sale, the president now owns 12,140 shares in the company, valued at approximately $2,315,340.80. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, President Debbra L. Schoneman sold 205 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the sale, the president now directly owns 16,935 shares in the company, valued at approximately $3,218,496.75. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock valued at $9,838,711 over the last three months. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com upgraded shares of 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.