Piper Sandler: 3 Key Takeaways for Long-Term Investors

Piper Sandler reported Q3 2026 adjusted net revenues of $456 million, driven by record advisory revenues from AI data center energy demand and dominance in bank M&A deals. The firm advised on 6 of the 10 largest bank M&A deals in Q3 and maintained top league table positions. Fixed income brokerage gains offset municipal financing headwinds from rising interest rates. Management expects a strong Q4 2026 and plans to deploy excess capital through share repurchases.