Piper Sandler reports Q3 net rev $445.6M, declares special $3 dividend, acquires Cornerstone Macro

PIPER SANDLER COMPANIES

2021-Q3 EPS reported $9.81 revenue$1,390,964,000

Q3 net revenues $445.6M (GAAP), down 12% QoQ, up 47% YoY; GAAP EPS $2.68, adjusted EPS $4.55.
Declared special dividend $3.00/share and quarterly dividend $0.55/share, payable Dec 10 to record Nov 23.
Announced acquisition of Cornerstone Macro (50+ professionals, 21 research analysts), expected close Q1 2022.
Investment banking revenues $335.6M (75% of net revs); advisory services $214.2M, second strongest quarter on record.
First nine months net revenues exceed $1.3B; adjusted EPS $14.08 (record first nine months).

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