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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Shareholders of record on Tuesday, March 4th will be given 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 dividend 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% per year 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 Price Performance

Shares of NYSE:PIPR traded down $0.43 during mid-day trading on Monday, hitting $316.71. The company had a trading volume of 94,257 shares, compared to its average volume of 93,075. Piper Sandler Companies has a one year low of $177.80 and a one year high of $351.80. The company has a fifty day moving average of $301.34. The firm has a market capitalization 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 period in the prior year, the company earned $4.03 earnings per share. On average, equities research analysts predict that Piper Sandler Companies will post 13.47 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Monday. StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the company a “neutral” rating in a research note 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.