Piper Sandler Companies (NYSE:PIPR) Posts Quarterly Earnings Results, Beats Expectations By $2.16 EPS

Piper Sandler Companies (NYSE:PIPR) released its earnings results on Friday. The company reported $6.88 earnings per share for the quarter, topping the consensus estimate of $4.72 by $2.16, FiscalAI reports. Piper Sandler Companies had a return on equity of 19.91% and a net margin of 13.73%.The firm had revenue of $635.00 million during the quarter, compared to analysts’ expectations of $516.52 million. During the same period in the prior year, the company earned $4.80 earnings per share. The company’s quarterly revenue was up 27.4% on a year-over-year basis.

Here are the key takeaways from Piper Sandler Companies’ conference call:

• Record financial results: Q4 adjusted net revenues were $635 million with adjusted EPS of $6.88, and full-year adjusted net revenues were $1.9 billion with adjusted EPS of $17.74, reflecting 22% revenue growth and a 39% increase in adjusted net income versus 2024.
• Advisory momentum and diversification: Advisory exceeded $1 billion (55% of net revenues) and grew 28% year-over-year with 335 transactions, while non-M&A advisory (debt capital markets, private capital advisory, restructuring) now represents over 25% of advisory revenues.
• Shareholder returns and liquidity actions: Returned $239 million in 2025 via buybacks and dividends, approved a special $5/share cash dividend (total dividends $7.70/share, 43% payout) and a 4-for-1 forward stock split to increase liquidity.
• Operational leverage and margins: Q4 operating margin was 27.2% (full-year 21.9%) with improved compensation and non-compensation ratios; management expects similar compensation ratios in 2026 with modest non-comp expense increases tied to office moves.
• Near-term market risks: recent tech/software equity sell-offs could pressure equity capital markets activity and Q1 seasonality makes early-2026 cadence uncertain despite a building advisory pipeline and strong January financings.

Piper Sandler Companies Stock Up 10.3%

Shares of Piper Sandler Companies stock opened at $365.67 on Friday. Piper Sandler Companies has a twelve month low of $202.91 and a twelve month high of $380.26. The stock has a market cap of $6.47 billion, a price-to-earnings ratio of 23.13, a P/E/G ratio of 1.17 and a beta of 1.53. The company’s fifty day moving average is $351.20 and its 200 day moving average is $339.26.

Piper Sandler Companies shares are scheduled to split on the morning of Tuesday, March 24th. The 4-3 split was recently announced. The newly created shares will be payable to shareholders after the market closes on Monday, March 23rd.

Piper Sandler Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, March 3rd. Piper Sandler Companies’s payout ratio is 17.71%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PIPR shares. The Goldman Sachs Group raised shares of Piper Sandler Companies from a “neutral” rating to a “buy” rating and lifted their price target for the company from $368.00 to $386.00 in a report on Monday, November 10th. Bank of America began coverage on shares of Piper Sandler Companies in a research report on Monday, January 26th. They issued an “underperform” rating and a $385.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Piper Sandler Companies in a research note on Friday, January 23rd. Wall Street Zen upgraded shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Wolfe Research reissued an “outperform” rating and set a $398.00 price objective on shares of Piper Sandler Companies in a report on Wednesday, January 7th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $389.67.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, CFO Katherine Patricia Clune sold 1,367 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $324.69, for a total transaction of $443,851.23. Following the completion of the sale, the chief financial officer owned 10,425 shares of the company’s stock, valued at approximately $3,384,893.25. This represents a 11.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Abraham sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $337.60, for a total transaction of $1,485,440.00. Following the transaction, the chief executive officer owned 53,558 shares of the company’s stock, valued at approximately $18,081,180.80. The trade was a 7.59% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 8,767 shares of company stock valued at $2,937,921 over the last 90 days. 2.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Piper Sandler Companies

A number of institutional investors have recently modified their holdings of the company. AQR Capital Management LLC raised its stake in Piper Sandler Companies by 20.7% during the first quarter. AQR Capital Management LLC now owns 5,572 shares of the company’s stock worth $1,380,000 after buying an additional 956 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Piper Sandler Companies by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,349 shares of the company’s stock valued at $2,563,000 after acquiring an additional 473 shares during the last quarter. United Services Automobile Association acquired a new stake in Piper Sandler Companies during the 1st quarter worth about $247,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Piper Sandler Companies by 0.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 44,323 shares of the company’s stock worth $10,977,000 after acquiring an additional 177 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Piper Sandler Companies by 46.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 170 shares of the company’s stock worth $42,000 after acquiring an additional 54 shares in the last quarter. 72.79% of the stock is owned by institutional investors.

Key Piper Sandler Companies News

Here are the key news stories impacting Piper Sandler Companies this week:

• Positive Sentiment: Earnings beat — Piper Sandler reported Q4 EPS of $6.88 versus consensus ~$4.72 and revenue of $635M (vs. ~$516.5M), with revenue up ~27% year-over-year and healthy margins/ROE. This materially better-than-expected quarter is the primary catalyst lifting the stock. PIPR Q4 beat (Zacks)
• Positive Sentiment: Dividend announced — Piper Sandler declared a quarterly dividend of $0.70/share (payable Mar 13; record/ex-dividend Mar 3), supporting shareholder income and signaling confidence in cash flow. (Annualized yield ~0.8%.)
• Positive Sentiment: Board addition — The company elected Stuart M. Essig to its board, which may be viewed positively for governance and strategic oversight. Board appointment
• Neutral Sentiment: Earnings call transcript available — Management commentary from the Q4 2025 earnings call is available for investors to parse for guidance, deal pipeline and outlook details; this will inform whether the beat is repeatable. Earnings call transcript (SA)
• Neutral Sentiment: Analyst coverage is mixed — Six brokerages give a consensus “Hold” (one Sell, three Hold, two Buy), indicating cautious sentiment despite the strong quarter; this could limit further upside until guidance or sustained results change consensus. Analyst consensus

Piper Sandler Companies Company Profile

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.