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

Piper Sandler Companies (NYSE:PIPR) posted its quarterly earnings data on Friday. The financial services provider reported $2.79 earnings per share 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 firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. During the same period last year, the company posted $2.35 EPS. The business’s quarterly revenue was up 15.5% on a year-over-year basis.

Piper Sandler Companies Trading Up 2.7 %

Piper Sandler Companies stock traded up $5.13 during midday trading on Friday, reaching $197.16. The stock 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 company has a market capitalization of $3.49 billion, a P/E ratio of 39.91 and a beta of 1.42. The company has a fifty day moving average price of $194.02 and a two-hundred day moving average price of $188.45.

Piper Sandler Companies Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity at Piper Sandler Companies

In other Piper Sandler Companies news, CEO Chad R. Abraham sold 6,662 shares of Piper Sandler Companies 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 completion of the transaction, the chief executive officer now owns 36,454 shares in the company, valued at approximately $6,745,083.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Piper Sandler Companies news, CEO Chad R. Abraham sold 6,662 shares of Piper Sandler Companies 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 completion of the transaction, the chief executive officer now owns 36,454 shares in the company, valued at approximately $6,745,083.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $914,502.40. Following the transaction, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The disclosure for this sale can be found here. Insiders sold 53,524 shares of company stock valued at $9,838,711 in the last three months. Corporate insiders own 3.00% of the company’s stock.

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.