Piper Sandler Companies Declares 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 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend is Tuesday, March 4th.

Piper Sandler Companies has increased its dividend by an average of 8.6% annually over the last three years. Piper Sandler Companies has a dividend payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $316.71 on Tuesday. Piper Sandler Companies has a 52-week low of $177.80 and a 52-week high of $351.80. The firm has a market capitalization of $5.63 billion, a PE ratio of 30.99 and a beta of 1.46. The stock has a fifty day simple moving average of $302.03 and a two-hundred day simple moving average of $314.01.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.99 by $0.81. Piper Sandler Companies had a return on equity of 17.00% and a net margin of 11.87%. During the same period last year, the firm posted $4.03 earnings per share. On average, sell-side analysts forecast that Piper Sandler Companies will post 13.47 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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