Piper Sandler Companies (PIPR) stock surged 5.64% in the pre-market session on Friday, following the company's impressive fourth-quarter earnings report. The investment bank and brokerage firm reported adjusted earnings per share (EPS) of $4.80, which significantly beat the analyst consensus estimate of $3.96.
The strong performance was driven by higher-than-expected revenue, which grew by 9% year-over-year to $498.58 million, exceeding analysts' expectations of $454.36 million. The company's core investment banking and brokerage operations saw robust demand, contributing to the top-line growth.
Piper Sandler also announced a special cash dividend of $3.00 per share, highlighting its confidence in future performance and commitment to returning value to shareholders. The company maintained its regular quarterly dividend of $0.65 per share.
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