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

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Investors 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 is Friday, November 22nd.

Piper Sandler Companies has increased its dividend payment by an average of 24.3% per year over the last three years. Piper Sandler Companies has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

NYSE:PIPR opened at $334.13 on Thursday. The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 35.70 and a beta of 1.39. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $347.15. The firm’s fifty day simple moving average is $310.87 and its 200 day simple moving average is $287.61.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $359.57 million during the quarter, compared to the consensus estimate of $365.07 million. On average, analysts predict that Piper Sandler Companies will post 11.49 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, September 17th. StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th.

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.