Piper Sandler Companies (NYSE:PIPR) Releases 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 for the quarter, beating the consensus estimate of $1.89 by $0.90, Briefing.com reports. The business had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.27% and a net margin of 6.33%. Piper Sandler Companies’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share.

Piper Sandler Companies Trading Up 2.7 %

NYSE:PIPR opened at $197.16 on Friday. The stock’s 50-day moving average is $194.02 and its 200-day moving average is $188.73. Piper Sandler Companies has a 1-year low of $120.97 and a 1-year high of $202.76. The stock has a market cap of $3.49 billion, a P/E ratio of 33.53 and a beta of 1.42.

Piper Sandler Companies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders 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 was Friday, March 1st. Piper Sandler Companies’s payout ratio is 40.82%.

Insider Activity at Piper Sandler Companies

In other news, CEO Chad R. Abraham sold 11,307 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total transaction of $2,037,295.26. Following the completion of the transaction, the chief executive officer now owns 24,116 shares of the company’s stock, valued at $4,345,220.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 sale, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chad R. Abraham sold 11,307 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 24,116 shares of the company’s stock, valued at $4,345,220.88. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock worth $9,838,711 in the last quarter. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

About Piper Sandler Companies

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.