Piper Sandler Companies to Issue 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 raised its dividend payment 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 Stock Performance

Shares of PIPR opened at $316.71 on Tuesday. The stock has a 50 day moving average price of $302.03 and a two-hundred day moving average price of $314.01. 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 has a 52 week low of $177.80 and a 52 week high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $4.03 earnings per share. On average, equities analysts forecast that Piper Sandler Companies will post 13.47 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.