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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) announced its earnings results 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 during the quarter, compared to the consensus estimate of $314.97 million. Piper Sandler Companies had a net margin of 6.33% and a return on equity of 13.27%. The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.35 earnings per share.

Piper Sandler Companies Trading Up 2.7 %

PIPR traded up $5.13 on Friday, reaching $197.16. The company had a trading volume of 153,700 shares, compared to its average volume of 91,872. The company has a fifty day moving average of $194.02 and a 200-day moving average of $188.73. The company has a market capitalization of $3.49 billion, a P/E ratio of 39.91 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 Dividend Announcement

The business 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. The ex-dividend date was Friday, March 1st. This represents a $2.40 dividend on an annualized basis and a yield of 1.22%. Piper Sandler Companies's dividend payout ratio is presently 48.58%.

Insider Activity

In other news, President Debbra L. Schoneman sold 5,000 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $184.13, for a total transaction of $920,650.00. Following the completion of the transaction, the president now owns 48,083 shares in the company, valued at approximately $8,853,522.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 5,000 shares of the firm's stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $184.13, for a total value of $920,650.00. Following the completion of the transaction, the president now directly owns 48,083 shares in the company, valued at $8,853,522.79. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, President Debbra L. Schoneman sold 205 shares of the firm's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $190.05, for a total transaction of $38,960.25. Following the completion of the transaction, the president now owns 16,935 shares of the company's stock, valued at $3,218,496.75. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,524 shares of company stock worth $9,838,711. Corporate insiders own 3.00% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. 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 report 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.