Piper Jaffray Companies (NYSE:PJC) Earns “Buy” Rating from Northland Securities

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. They currently have a $89.00 price objective 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.”,” the firm’s analyst wrote.

A number of other brokerages have also commented on PJC. Zacks Investment Research lowered Green Plains from a hold rating to a strong sell rating in a report on Thursday, June 27th. ValuEngine raised Zynerba Pharmaceuticals from a sell rating to a hold rating in a report on Monday, April 1st. Finally, TheStreet raised Valmont Industries from a c+ rating to a b- rating in a report on Wednesday, March 13th.



Shares of PJC opened at $76.86 on Wednesday. The business’s 50 day moving average is $73.38. The company has a market cap of $1.07 billion, a price-to-earnings ratio of 11.87 and a beta of 1.34. Piper Jaffray Companies has a 52 week low of $61.35 and a 52 week high of $82.52.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings data on Friday, April 26th. The financial services provider reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.37. The firm had revenue of $191.83 million during the quarter, compared to analyst estimates of $174.65 million. Piper Jaffray Companies had a return on equity of 11.62% and a net margin of 7.16%. As a group, research analysts forecast that Piper Jaffray Companies will post 6.5 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Jaffray Companies’s dividend payout ratio is presently 24.47%.

Several hedge funds have recently added to or reduced their stakes in PJC. Oregon Public Employees Retirement Fund bought a new position in shares of Piper Jaffray Companies in the fourth quarter valued at approximately $371,000. BlackRock Inc. grew its holdings in shares of Piper Jaffray Companies by 1.0% in the fourth quarter. BlackRock Inc. now owns 2,248,518 shares of the financial services provider’s stock valued at $148,044,000 after acquiring an additional 21,938 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Piper Jaffray Companies by 1.7% in the fourth quarter. Texas Permanent School Fund now owns 9,703 shares of the financial services provider’s stock valued at $639,000 after acquiring an additional 159 shares in the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Piper Jaffray Companies by 12.4% in the fourth quarter. Great West Life Assurance Co. Can now owns 20,366 shares of the financial services provider’s stock valued at $1,237,000 after acquiring an additional 2,243 shares in the last quarter. Finally, Hsbc Holdings PLC bought a new position in shares of Piper Jaffray Companies in the fourth quarter valued at approximately $221,000. 75.89% of the stock is owned by institutional investors.

Piper Jaffray Companies Company Profile

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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