Piper Sandler Companies (NYSE:PIPR) to Issue Quarterly Dividend of $0.65

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Tuesday, March 4th will be paid a dividend of 0.65 per share by the financial services provider on Friday, March 14th. This represents a $2.60 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Tuesday, March 4th.

Piper Sandler Companies has raised its dividend by an average of 8.6% annually over the last three years. Piper Sandler Companies has a dividend payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Down 0.1 %

Shares of NYSE:PIPR traded down $0.43 on Monday, reaching $316.71. The company had a trading volume of 94,257 shares, compared to its average volume of 93,075. The firm has a market capitalization of $5.63 billion, a price-to-earnings ratio of 30.99 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80. The business has a 50 day moving average of $301.34.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same quarter last year, the business earned $4.03 earnings per share. As a group, equities analysts expect that Piper Sandler Companies will post 13.47 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have issued reports on PIPR shares. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday. The Goldman Sachs Group upped their target price on Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday. Finally, StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th.

About Piper Sandler Companies

Piper Sandler Companies operates as an investment bank and institutional securities firm that serves corporations, private equity groups, public entities, non-profit entities, and institutional investors in the United States and internationally. It offers investment banking services and institutional sales, trading, and research services for various equity and fixed income products; advisory services, such as mergers and acquisitions, equity and debt private placements, and debt and restructuring advisory; raises capital through equity and debt financings; underwrites municipal issuances; and municipal financial advisory and loan placement services, as well as various over-the-counter derivative products.