Piper Sandler Companies (NYSE:PIPR) Announces $0.65 Quarterly Dividend

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be given a dividend of 0.65 per share by the financial services provider on Friday, December 13th. This represents a $2.60 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date is Friday, November 22nd.

Piper Sandler Companies has increased its dividend by an average of 24.3% annually over the last three years. Piper Sandler Companies has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Piper Sandler Companies to earn $13.47 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 19.3%.

Piper Sandler Companies Price Performance

Shares of NYSE:PIPR traded down $3.60 during midday trading on Wednesday, reaching $331.79. 5,709 shares of the company’s stock were exchanged, compared to its average volume of 108,027. The stock has a market cap of $5.90 billion, a price-to-earnings ratio of 35.83 and a beta of 1.39. Piper Sandler Companies has a fifty-two week low of $151.03 and a fifty-two week high of $347.15. The firm’s 50 day simple moving average is $309.59 and its two-hundred day simple moving average is $286.50.

Piper Sandler Companies (NYSE:PIPR) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 EPS for the quarter, topping the consensus estimate of $2.53 by $0.04. The business had revenue of $359.57 million during the quarter, compared to analyst estimates of $365.07 million. Piper Sandler Companies had a return on equity of 16.06% and a net margin of 10.84%. Equities research analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PIPR. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th. StockNews.com downgraded shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th.

Piper Sandler Companies Company Profile

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.