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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Stockholders of record on Tuesday, March 4th will be given 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 dividend yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 4th.

Piper Sandler Companies has increased its dividend payment by an average of 8.6% per year over the last three years. Piper Sandler Companies has a payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Price Performance

NYSE:PIPR traded down $0.43 during trading hours on Monday, hitting $316.71. The company’s stock had a trading volume of 94,257 shares, compared to its average volume of 93,075. Piper Sandler Companies has a twelve month low of $177.80 and a twelve month high of $351.80. The stock has a fifty day simple moving average of $301.34. The stock has a market capitalization of $5.63 billion, a P/E ratio of 30.99 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (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 firm posted $4.03 EPS. Equities research analysts forecast that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PIPR. The Goldman Sachs Group raised their price objective on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a report on Monday. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday.

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.