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

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

Piper Sandler Companies has increased its dividend payment by an average of 24.3% annually over the last three years. Piper Sandler Companies has a payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Stock Down 1.1 %

Piper Sandler Companies stock traded down $3.60 during mid-day trading on Wednesday, hitting $331.79. The company’s stock had a trading volume of 5,709 shares, compared to its average volume of 108,027. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $347.15. The stock has a market capitalization of $5.90 billion, a P/E ratio of 35.83 and a beta of 1.39. The stock’s fifty day moving average price is $309.59 and its two-hundred day moving average price is $286.50.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PIPR. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Monday, October 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th.

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.