Piper Sandler Companies Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Piper Sandler Companies filed its Q1 2024 10-Q report on May 7, 2024.</b>

AI Summary

PIPER SANDLER COMPANIES (PIPR) filed a Quarterly Report (10-Q) with the SEC on May 7, 2024. Piper Sandler Companies filed a 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of 2024. The company's fiscal year ends on December 31st. Piper Sandler Companies is classified under SIC code 6211: Security Brokers, Dealers & Flotation Companies. The company's principal business address is 800 Nicollet Mall, Suite 900, Minneapolis, MN 55402.

Why It Matters

For investors and stakeholders tracking PIPER SANDLER COMPANIES, this filing contains several important signals. This 10-Q filing provides investors with the company's financial performance and position for the first quarter of 2024, enabling informed investment decisions. Understanding the details within this report is crucial for assessing Piper Sandler's operational health and strategic direction in the current market environment.

Risk Assessment

Risk Level: low — PIPER SANDLER COMPANIES shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or unusual disclosures, indicating a routine update.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Piper Sandler's performance drivers and outlook.

Key Numbers

• 2024-03-31 — Report Period End Date (Conformed Period of Report)
• 2024-05-07 — Filing Date (Filed as of Date)
• 2024-01-01 — Quarter Start Date (Reporting Quarter Start Date)
• 2023-03-31 — Prior Year Quarter End Date (Prior Year Quarter End Date)

Key Players & Entities

• PIPER SANDLER COMPANIES (company) — Filer name
• 0001230245 (company) — Central Index Key
• 6211 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• MINNEAPOLIS (company) — Business Address City
• MN (company) — Business Address State
• 55402 (company) — Business Address Zip
• PIPER JAFFRAY COMPANIES (company) — Former Company Name

FAQ

Industry Context

Piper Sandler Companies operates in the financial services sector, specifically as a securities broker and dealer, participating in investment banking and capital markets.

Regulatory Implications

The company is subject to regulations governing financial institutions, including those overseen by the SEC and FINRA, ensuring compliance with securities laws.

What Investors Should Do

1. Analyze the balance sheet and income statement for Q1 2024.
2. Review any disclosures related to market conditions or regulatory changes.
3. Compare key financial metrics to previous periods and industry benchmarks.

Key Dates

• 2024-03-31: Quarterly Report Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-05-07: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This filing is a 10-Q for the quarter ended March 31, 2024, representing a standard quarterly update to the company's financial disclosures.

Key Financial Figures

• $0.01 — ich Registered Common Stock, par value $0.01 per share PIPR The New York Stock Excha

Filing Documents

• pipr-20240331.htm (10-Q) — 1794KB
• pscq12024ex311.htm (EX-31.1) — 9KB
• pscq12024ex312.htm (EX-31.2) — 9KB
• pscq12024ex321.htm (EX-32.1) — 4KB
• 0001230245-24-000083.txt (&nbsp;) — 9471KB
• pipr-20240331.xsd (EX-101.SCH) — 65KB
• pipr-20240331_cal.xml (EX-101.CAL) — 64KB
• pipr-20240331_def.xml (EX-101.DEF) — 425KB
• pipr-20240331_lab.xml (EX-101.LAB) — 823KB
• pipr-20240331_pre.xml (EX-101.PRE) — 601KB
• pipr-20240331_htm.xml (XML) — 1416KB

Financial Information

Part I. Financial Information Item 1.

Financial Statements

Financial Statements 3 Item 2. M anagement's D iscussion and A nalysis of F inancial C ondition and Results of Operations 33 Item 3. Q uantitative and Q ualitative D isclosures A bout M arket R isk 54 Item 4. C ontrols and P r ocedures 55

Other Information

Part II. Other Information Item 1. L egal P r oceedings 55 Item 1A. R isk F a ctors 55 Item 2. U nregistered S ales of E quity S ecurities and U se of P roceeds 56 Item 3. D ef aults Upon Senior Securities 56 Item 4. M ine Safety Disclosures 56 Item 5. O ther I n formation 56 Item 6. E x hibits 57 S i gnatures 58 Piper Sandler Companies | 2 Table of Contents

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements. INDEX TO THE CONSOLIDATED FINANCIAL STATEMENTS Consolidated Statements of Financial Condition 4 Consolidated Statements of Operations 5 Consolidated Statements of Comprehensive Income 6 Consolidated Statements of Changes in Shareholders' Equity 7 Consolidated Statements of Cash Flows 8 Notes to the Consolidated Financial Statements 9 Note 1 Organization and Basis of Presentation 9 Note 2 Summary of Significant Accounting Policies 9 Note 3 Recent Accounting Pronouncements 10 Note 4 Receivables from and Payables to Brokers, Dealers and Clearing Organizations 10 Note 5 Fair Value of Financial Instruments 11 Note 6 Financial Instruments and Other Inventory Positions 18 Note 7 Investments 20 Note 8 Variable Interest Entities 20 Note 9 Other Assets 21 Note 10 Short-Term Financing 22 Note 11 Legal Contingencies 22 Note 12 Shareholders' Equity 23 Note 13 Revenues and Business Information 24 Note 14 Compensation Plans 25 Note 15 Earnings Per Share 32 Note 16 Net Capital Requirements and Other Regulatory Matters 32 Piper Sandler Companies | 3 Table of Contents Piper Sandler Companies Consolidated Statements of Financial Condition March 31, December 31, 2024 2023 (Amounts in thousands, except share data) (Unaudited) Assets Cash and cash equivalents $ 69,958 $ 383,098 Receivables from brokers, dealers and clearing organizations 176,398 212,004 Financial instruments and other inventory positions owned: Financial instruments and other inventory positions owned 118,753 341,780 Financial instruments and other inventory positions owned and pledged as collateral 323,474 92,777 Total financial instruments and other inventory positions owned 442,227 434,557 Investments (including noncontrolling interests of $ 234,167 and $ 211,096 , respectively) 325,435 298,048 Fixed assets (net of accumulated depreciation and amortization of $ 95,534 and $ 91,378 , respectively) 57,

View Full Filing

View this 10-Q filing on SEC EDGAR