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

Piper Sandler Companies (NYSE:PIPR) issued its earnings results on Friday. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, topping 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 net margin of 6.33% and a return on equity of 13.27%. Piper Sandler Companies’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.35 earnings per share.

Piper Sandler Companies Price Performance

Shares of PIPR stock opened at $197.16 on Friday. The firm has a 50-day moving average of $194.02 and a 200-day moving average of $188.73. The company has a market cap of $3.49 billion, a P/E ratio of 33.53 and a beta of 1.42. Piper Sandler Companies has a one year low of $120.97 and a one year high of $202.76.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis 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 (DPR) is 40.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note 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.

Insider Activity

In other news, CEO Chad R. Abraham sold 6,662 shares of the 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 completion of 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 accessible through the SEC website. In other news, CEO Chad R. Abraham sold 11,307 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $180.18, for a total value 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 $4,345,220.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Chad R. Abraham sold 6,662 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $185.03, for a total transaction of $1,232,669.86. Following the sale, the chief executive officer now owns 36,454 shares of the company’s stock, valued at approximately $6,745,083.62. The disclosure for this sale can be found here. Insiders sold a total of 53,524 shares of company stock worth $9,838,711 over the last quarter. Insiders own 3.00% of the company’s stock.

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.