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

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders 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 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend 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 payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Price Performance

Shares of NYSE PIPR opened at $316.71 on Tuesday. The firm has a 50-day simple moving average of $302.03 and a two-hundred day simple moving average of $314.01. Piper Sandler Companies has a 1 year low of $177.80 and a 1 year high of $351.80. The company has a market cap of $5.63 billion, a P/E ratio of 30.99 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 in the prior year, the firm earned $4.03 earnings per share. As a group, equities research analysts expect that Piper Sandler Companies will post 13.47 EPS for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on PIPR. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note 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, The Goldman Sachs Group lifted 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.

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.