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

Piper Sandler Companies (NYSE:PIPR) posted its quarterly earnings data on Friday, February 6th. The company reported $6.88 earnings per share for the quarter, topping the consensus estimate of $4.72 by $2.16, FiscalAI reports. The business had revenue of $635.00 million during the quarter, compared to the consensus estimate of $516.52 million. Piper Sandler Companies had a net margin of 14.77% and a return on equity of 21.85%. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share.

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 Trading Up 1.9%

NYSE:PIPR opened at $299.73 on Tuesday. The firm has a market capitalization of $5.34 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.63 and a beta of 1.54. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $380.26. The business’s fifty day moving average price is $327.42 and its 200 day moving average price is $336.11.

Piper Sandler Companies Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 13th. Stockholders of record on Tuesday, March 3rd were issued a $0.175 dividend. The ex-dividend date was Tuesday, March 3rd. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. Piper Sandler Companies’s dividend payout ratio is presently 17.71%.

Insider Buying and Selling

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 20,960 shares of Piper Sandler Companies stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $87.75, for a total transaction of $1,839,187.60. Following the transaction, the president owned 11,584 shares of the company’s stock, valued at $1,016,467.04. The trade was a 64.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.70% of the company’s stock.

Institutional Trading of Piper Sandler Companies

Several institutional investors have recently made changes to their positions in PIPR. M&T Bank Corp increased its stake in Piper Sandler Companies by 3.5% in the 2nd quarter. M&T Bank Corp now owns 905 shares of the company’s stock valued at $251,000 after buying an additional 31 shares during the period. UMB Bank n.a. grew its holdings in shares of Piper Sandler Companies by 55.2% during the 4th quarter. UMB Bank n.a. now owns 90 shares of the company’s stock valued at $31,000 after acquiring an additional 32 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Piper Sandler Companies by 0.4% during the 4th quarter. Public Employees Retirement System of Ohio now owns 8,108 shares of the company’s stock valued at $2,754,000 after acquiring an additional 35 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Piper Sandler Companies by 13.4% in the second quarter. Smartleaf Asset Management LLC now owns 330 shares of the company’s stock worth $93,000 after acquiring an additional 39 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in shares of Piper Sandler Companies by 73.3% during the fourth quarter. Federated Hermes Inc. now owns 104 shares of the company’s stock worth $35,000 after acquiring an additional 44 shares in the last quarter. 72.79% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on PIPR. Wolfe Research reaffirmed an “outperform” rating and set a $99.50 price target on shares of Piper Sandler Companies in a research note on Wednesday, January 7th. Wall Street Zen upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Tuesday, February 24th. Bank of America initiated coverage on Piper Sandler Companies in a research report on Monday, January 26th. They set an “underperform” rating and a $96.25 target price on the stock. Zacks Research raised Piper Sandler Companies from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 10th. Finally, Northland Securities upgraded Piper Sandler Companies from a “market perform” rating to an “outperform” rating and set a $87.50 price target for the company in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $95.31.

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.