Piper Sandler (PIPR) reported Q3 adjusted earnings Friday of $1.76 per diluted share, down from $2.32 a year earlier.
Four analysts polled by Capital IQ expected $1.58.
Total revenue for the quarter ended Sept. 30 was $292 million, down from $334.4 million a year earlier.
Four analysts surveyed by Capital IQ expected $298.8 million.
The investment firm said it has retained its quarterly dividend at $0.60, payable Dec. 8 to shareholders of record on Nov. 21.