Piper Jaffray Companies (PJC) Upgraded at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of Piper Jaffray Companies (NYSE:PJC) from a market perform rating to an outperform rating in a report published on Monday morning, MarketBeat.com reports.

Separately, BidaskClub raised Piper Jaffray Companies from a sell rating to a hold rating in a research note on Saturday, July 8th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. Piper Jaffray Companies has a consensus rating of Hold and a consensus price target of $27.79.

Piper Jaffray Companies (NYSE:PJC) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $2.13 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.06 by $1.07. Piper Jaffray Companies had a positive return on equity of 10.99% and a negative net margin of 6.30%. The firm had revenue of $240.57 million during the quarter.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 29th will be issued a dividend of $0.3125 per share. The ex-dividend date of this dividend is Tuesday, November 28th. This represents a $1.25 annualized dividend and a yield of 1.71%. Piper Jaffray Companies’s payout ratio is currently -26.54%.

Piper Jaffray Companies declared that its board has approved a stock repurchase program on Thursday, August 10th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the financial services provider to purchase up to 17.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its stock is undervalued.

In other Piper Jaffray Companies news, insider Christopher D. Crawshaw sold 8,168 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $63.65, for a total transaction of $519,893.20. Following the transaction, the insider now directly owns 26,583 shares in the company, valued at approximately $1,692,007.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.36% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in Piper Jaffray Companies during the 1st quarter worth $123,000. Farmers & Merchants Investments Inc. increased its holdings in Piper Jaffray Companies by 93.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 2,090 shares of the financial services provider’s stock worth $124,000 after purchasing an additional 1,007 shares during the period. Creative Planning increased its holdings in Piper Jaffray Companies by 9.2% during the 2nd quarter. Creative Planning now owns 2,094 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 177 shares during the period. State of Alaska Department of Revenue increased its holdings in Piper Jaffray Companies by 78.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,800 shares of the financial services provider’s stock worth $167,000 after purchasing an additional 1,230 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Piper Jaffray Companies by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,842 shares of the financial services provider’s stock worth $170,000 after purchasing an additional 10 shares during the period. Institutional investors own 65.69% of the company’s stock.

Piper Jaffray Companies Company Profile

Piper Jaffray Companies is an investment bank and asset management company. The Company’s segments include Capital Markets and Asset Management. The Capital Markets segment provides investment banking and institutional sales, trading and research services for various equity and fixed income products.

Analyst Recommendations for Piper Jaffray Companies (NYSE:PJC)

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