Piper Sandler Companies (NYSE:PIPR) Increases Dividend to $0.65 Per Share

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, August 5th, Wall Street Journal reports. Investors of record on Thursday, August 29th will be given a dividend of 0.65 per share by the financial services provider on Friday, September 13th. This represents a $2.60 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, August 29th. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.60.

Piper Sandler Companies has increased its dividend payment by an average of 24.3% per year over the last three years. Piper Sandler Companies has a dividend payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Piper Sandler Companies stock traded down $6.06 during midday trading on Monday, hitting $238.48. 299,627 shares of the company’s stock were exchanged, compared to its average volume of 109,850. Piper Sandler Companies has a 52-week low of $130.89 and a 52-week high of $280.45. The stock’s 50-day moving average price is $251.60. The firm has a market capitalization of $4.22 billion, a P/E ratio of 40.56 and a beta of 1.41.

Piper Sandler Companies (NYSE:PIPR) last posted its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.26 by $0.26. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. The business had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. During the same period in the previous year, the business earned $1.13 earnings per share. The firm’s revenue was up 23.7% on a year-over-year basis. As a group, research analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, President Debbra L. Schoneman sold 1,022 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the sale, the president now owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the completion of the transaction, the president now owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Debbra L. Schoneman sold 3,978 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $212.29, for a total value of $844,489.62. Following the transaction, the president now directly owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th.

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.