Piper Sandler Companies (NYSE:PIPR) Posts Quarterly Earnings Results, Beats Expectations By $0.81 EPS

Piper Sandler Companies (NYSE:PIPR - Get Free Report) issued its earnings results on Friday. The financial services provider reported $4.80 EPS for the quarter, beating analysts' consensus estimates of $3.99 by $0.81, Zacks reports. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period in the prior year, the company earned $4.03 EPS.

Piper Sandler Companies Price Performance

PIPR traded up $3.03 during mid-day trading on Tuesday, hitting $319.81. The stock had a trading volume of 106,412 shares, compared to its average volume of 96,205. The stock's fifty day simple moving average is $302.03 and its 200-day simple moving average is $314.01. Piper Sandler Companies has a 1-year low of $177.80 and a 1-year high of $351.80. The firm has a market capitalization of $5.69 billion, a price-to-earnings ratio of 31.29 and a beta of 1.46.

Piper Sandler Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Tuesday, March 4th will be issued a $0.65 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $2.60 annualized dividend and a yield of 0.81%. Piper Sandler Companies's dividend payout ratio is currently 25.44%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PIPR shares. The Goldman Sachs Group raised their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a "neutral" rating in a report on Monday. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday. Finally, StockNews.com downgraded Piper Sandler Companies from a "buy" rating to a "hold" rating in a research report on Tuesday, January 7th.

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.