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

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

Piper Sandler Companies has raised its dividend by an average of 24.3% annually over the last three years. Piper Sandler Companies has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings. 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 Trading Down 0.4 %

PIPR stock opened at $334.13 on Thursday. The stock’s 50 day simple moving average is $310.87 and its 200 day simple moving average is $287.61. Piper Sandler Companies has a 12-month low of $151.03 and a 12-month high of $347.15. The firm has a market cap of $5.94 billion, a P/E ratio of 35.70 and a beta of 1.39.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PIPR. StockNews.com cut shares of 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 report on Tuesday, September 17th.

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.