PIPER SANDLER COMPANIES (PIPR)

Security Brokers, Dealers & Flotation Companies

Latest Price

$77.04

TTM P/E

6.61

Normalized P/E

7.91

Div Yield

3.93%

Book Value

20.26

P/B Ratio

3.80

Valuation metrics

EPS: $15.82

Book value / share: $81.26

Formula: √(22.5 × EPS × BVPS)

Graham Number

$170.08

+133% upside

Norm. op. income: $134M (median of 7yr)

Tax rate: 25%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$107.06

+47% upside

EPS: $15.82

Target P/E: 7×

Formula: EPS × P/E

P/E Fair Value

$110.74

+52% upside

90.1% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
BlackRock, Inc.	11.05M	$799.0M	16.36%	+619.7K	2026-06-30
VANGUARD PORTFOLIO MANAGEMENT LLC	5.19M	$375.0M	7.68%	+53.1K	2026-06-30
Invesco Ltd.	3.14M	$227.0M	4.65%	+532.7K	2026-06-30
VANGUARD CAPITAL MANAGEMENT LLC	3.04M	$219.0M	4.50%	+15.6K	2026-06-30
STATE STREET CORP	2.92M	$211.0M	4.32%	+133.9K	2026-06-30
GEODE CAPITAL MANAGEMENT, LLC	1.74M	$125.0M	2.58%	+109.8K	2026-06-30
GOLDMAN SACHS GROUP INC	1.62M	$116.0M	2.39%	+148.7K	2026-06-30
DIMENSIONAL FUND ADVISORS LP	1.42M	$103.0M	2.11%	+48.4K	2026-06-30
North Reef Capital Management LP	1.35M	$97.0M	2.00%	+385.4K	2026-06-30
WESTWOOD HOLDINGS GROUP INC	1.24M	$89.0M	1.83%	+125.4K	2026-06-30