| Yesterday | ||||
Piper Sandler Companies… Story temporarily locked. | ||||
| Over a week ago | ||||
Piper Sandler (PIPR) has… Piper Sandler (PIPR) has been selected by the FDIC to relaunch the sale of failed lender Silicon Valley Bank (SIVB), Reuters' David French reports, citing people familiar with the matter. Regulators took SVB over last Friday and agreed on Sunday to guarantee all deposits, but a weekend action launched by FDIC to sell Silicon Valley Bank failed on Sunday. The FDIC will try to sell Silicon Valley Bank in its entirety but also explore piecemeal deals, one source says. Separately, SVB Financial said Monday that it was exploring options for its other assets, including an investment bank and an investment business. Reference Link | ||||
| Over a month ago | ||||
Northland analyst Mike… Northland analyst Mike Grondahl raised the firm's price target on Piper Sandler to $160 from $135 and keeps an Outperform rating on the shares after the company reported Q4 adjusted revenue and EPS that beat the firm's forecasts and "finished 2022 with its strongest quarter of the year." 2022 was "a solid year" in terms of execution, said Northland, which adds that Piper "continues to prove resilient against the challenging macro backdrop." | ||||
JMP Securities analyst… JMP Securities analyst Devin Ryan raised the firm's price target on Piper Sandler to $180 from $160 and keeps an Outperform rating on the shares. Piper Sandler's Q4 results were "solid," with the beat driven by higher Advisory Services and Fixed Income Brokerage revenue, the analyst tells investors in a research note. The firm continues to view the risk/reward opportunity as favorable. | ||||
Reports Q4 revenue… Reports Q4 revenue $393.32M, consensus $356M. "We finished 2022 with $391 million of net revenues for the fourth quarter, which represents the strongest quarter of the year. The benefits and durability of our diversified and scaled business are reflected in our full year revenues of $1.4 billion, our second strongest year on record, against the ongoing challenging market backdrop," said Chad Abraham, chairman and chief executive officer. "With a core focus on growing the long-term earnings capacity and market presence of our firm and returning capital to our shareholders, 2022 was an active year. We completed three acquisitions and returned $295 million to shareholders through share repurchases and dividends." | ||||
JMP Securities analyst… JMP Securities analyst Devin Ryan lowered the firm's price target on Piper Sandler to $160 from $178 and keeps an Outperform rating on the shares as part of a broader research note on Investment Banks & Brokers, Alternative Asset Managers, and Financial Technology. Q4 is expected to represent another generally tough quarter for most companies in his coverage while the market remains focused on assessing the effect of central bank policy on both inflation control and economic implications in the early part of 2023, the analyst tells investors in a research note. | ||||
| Over a quarter ago | ||||
LPL Financial (LPLA)… LPL Financial (LPLA) announced the appointment of Adam Turnquist as Chief Technical Strategist for the firm's Investment Research team. In his new role Turnquist will lead the firm's technical analysis of global capital markets. He will also serve as a key member of the firm's Strategic and Tactical Asset Allocation Committee. Turnquist will report to LPL's Chief Investment Officer, Marc Zabicki. Prior to joining LPL he served as Vice President on Piper Sandler's (PIPR) research team, and has worked as a fixed income trader. | ||||
Reports Q2 revenue… Reports Q2 revenue $354.546M, consensus $338.33M. "We delivered a solid quarter with over $345 million of net revenues against a challenging market backdrop, highlighting the benefits and durability of our diversified and scaled business," said Chad Abraham, chairman and chief executive officer. "We continue to focus on growing the long-term earnings capacity of our firm, and during the quarter, we closed on the acquisition of Stamford Partners, as well as recently announced the pending acquisition of DBO Partners to grow our technology investment banking practice." | ||||
JMP Securities analyst… JMP Securities analyst Devin Ryan lowered the firm's price target on Piper Sandler to $178 from $182 but keeps an Outperform rating on the shares as part of a broader research note on Alternative Asset Managers. After another rough quarter and with "likely some more pain ahead", the bar on performance has been lowered, but the industry is getting close to pricing in a recessionary environment, the analyst tells investors in a research note. Ryan adds that from a price perspective, upside now far outweighs the downside in the group, and he sees most names "inevitably recovering and possibly making new highs" when the markets stabilize. | ||||
Wolfe Research analyst… Wolfe Research analyst Steven Chubak downgraded Piper Sandler to Peer Perform from Outperform with a $132 price target. | ||||
