Piper Jaffray Companies (NYSE:PJC) Given “Buy” Rating at Northland Securities

Northland Securities reiterated their buy rating on shares of Piper Jaffray Companies (NYSE:PJC) in a research report report published on Wednesday, AnalystRatings.com reports. They currently have 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.

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of Zynerba Pharmaceuticals from a sell rating to a hold rating in a research note on Monday, April 1st. TheStreet upgraded shares of Valmont Industries from a c+ rating to a b- rating in a research note on Wednesday, March 13th. Finally, Zacks Investment Research cut shares of Green Plains from a hold rating to a strong sell rating in a research note on Thursday, June 27th.

Shares of PJC traded up $1.39 during trading hours on Wednesday, reaching $75.24. 157,100 shares of the stock traded hands, compared to its average volume of 80,816. Piper Jaffray Companies has a 52-week low of $61.35 and a 52-week high of $82.52. The company’s 50-day simple moving average is $73.32. The company has a market capitalization of $1.07 billion, a P/E ratio of 12.27 and a beta of 1.35.

Piper Jaffray Companies (NYSE:PJC) last announced its quarterly earnings results on Friday, April 26th. The financial services provider reported $1.57 EPS for the quarter, topping the consensus estimate of $1.20 by $0.37. The business had revenue of $191.83 million for the quarter, compared to analysts’ expectations of $174.65 million. Piper Jaffray Companies had a net margin of 7.16% and a return on equity of 11.62%. On average, analysts anticipate that Piper Jaffray Companies will post 6.5 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend was Thursday, May 23rd. Piper Jaffray Companies’s payout ratio is currently 24.47%.

Hedge funds have recently made changes to their positions in the business. Investors Research Corp purchased a new stake in Piper Jaffray Companies in the 1st quarter worth $51,000. Quantamental Technologies LLC purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter valued at about $58,000. Convergence Investment Partners LLC purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter valued at about $151,000. Pillar Pacific Capital Management LLC purchased a new stake in shares of Piper Jaffray Companies during the 1st quarter valued at about $218,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of Piper Jaffray Companies during the 2nd quarter valued at about $238,000. Institutional investors and hedge funds own 75.89% of the company’s stock.

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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