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

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

Piper Sandler Companies Price Performance

Shares of NYSE PIPR traded up $5.13 during midday trading on Friday, hitting $197.16. 153,700 shares of the company’s stock were exchanged, compared to its average volume of 91,872. Piper Sandler Companies has a twelve month low of $120.97 and a twelve month high of $202.76. The firm has a market cap of $3.49 billion, a P/E ratio of 39.91 and a beta of 1.42. The stock’s 50 day moving average price is $194.02 and its 200-day moving average price is $188.45.

Piper Sandler Companies Announces Dividend

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

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $190.72, for a total transaction of $914,502.40. Following the sale, the president now directly owns 12,140 shares in the company, valued at $2,315,340.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Jonathan J. Doyle sold 2,013 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $179.79, for a total transaction of $361,917.27. Following the sale, the insider now owns 166,214 shares of the company’s stock, valued at $29,883,615.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Debbra L. Schoneman sold 4,795 shares of the company’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 completion of the sale, the president now owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock worth $9,838,711 in the last three months. 3.00% of the stock is owned by company insiders.

Analyst Ratings Changes

PIPR has been the topic of a number of recent research reports. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, April 9th.

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.