Northland Securities reiterated their buy rating on shares of Piper Jaffray Companies (NYSE:PJC) in a research note issued to investors on Wednesday, AnalystRatings.com reports. The firm currently has a $89.00 price target on the financial services provider’s stock.
“We believe these are 5-7 year terms. In 2018, Sandler’s revenues were ~$340M and revenues have an average of $290M since 2011. Sandler’s 199 book ran transactions and managed more sub debt or senior note offerings for banks under $35B in assets than any other bank since 2014. Sandler will get one BOD sent when the deal closes and a 2nd seat in 1Q21. Doyle will continue with the new company and have signed employment agreements along with other key Sandler employees and all Sandler partners. Proforma for the deal, Sandler employees are expected to own ~16% of the combined company. We believe the combined name is a good idea. For PJC, this acquisition deploys excess capital and expected cash proceeds from the pending sale of Advisory Research Inc.”,” Northland Securities’ analyst wrote.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Green Plains from a hold rating to a strong sell rating in a report on Thursday, June 27th. ValuEngine upgraded Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, TheStreet upgraded Valmont Industries from a c+ rating to a b- rating in a report on Wednesday, March 13th.
Piper Jaffray Companies (NYSE:PJC) last issued its earnings results on Friday, April 26th. The financial services provider reported $1.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.37. The company had revenue of $191.83 million during the quarter, compared to analysts’ expectations of $174.65 million. Piper Jaffray Companies had a return on equity of 11.62% and a net margin of 7.16%. On average, equities analysts predict that Piper Jaffray Companies will post 6.5 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Thursday, May 23rd. Piper Jaffray Companies’s dividend payout ratio (DPR) is presently 24.47%.
Several institutional investors have recently made changes to their positions in PJC. Norges Bank acquired a new position in shares of Piper Jaffray Companies in the 4th quarter valued at $12,217,000. Assenagon Asset Management S.A. acquired a new position in shares of Piper Jaffray Companies in the 1st quarter valued at $2,959,000. BlackRock Inc. lifted its stake in shares of Piper Jaffray Companies by 1.0% in the 4th quarter. BlackRock Inc. now owns 2,248,518 shares of the financial services provider’s stock valued at $148,044,000 after purchasing an additional 21,938 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Piper Jaffray Companies by 1.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 609,405 shares of the financial services provider’s stock valued at $40,124,000 after purchasing an additional 11,613 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Piper Jaffray Companies in the 1st quarter valued at $679,000. 75.89% of the stock is currently owned by institutional investors and hedge funds.
About Piper Jaffray Companies
Piper Jaffray Companies operates as an investment bank and asset management firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. The company's Capital Markets segment offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.
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