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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, October 28th, 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 0.90%. The ex-dividend date of this dividend is Friday, November 22nd.

Piper Sandler Companies has raised its dividend payment by an average of 24.3% annually 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 $15.12 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 17.2%.

Piper Sandler Companies Stock Performance

PIPR stock traded up $8.79 during trading hours on Monday, reaching $289.32. 170,974 shares of the stock were exchanged, compared to its average volume of 107,442. The firm’s 50-day simple moving average is $289.47. The company has a market cap of $5.12 billion, a P/E ratio of 49.20 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $134.82 and a 12 month high of $306.10.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, August 2nd. The financial services provider reported $2.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million during the quarter, compared to analysts’ expectations of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. The company’s revenue was up 23.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.13 EPS. Equities analysts expect that Piper Sandler Companies will post 11.53 earnings per share for the current year.

Insider Transactions at Piper Sandler Companies

In other news, insider Jonathan J. Doyle sold 12,695 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the transaction, the insider now directly owns 160,095 shares in the company, valued at $37,883,279.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Philip Soran sold 1,792 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total value of $472,944.64. Following the completion of the sale, the director now directly owns 18,341 shares in the company, valued at approximately $4,840,556.72. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Jonathan J. Doyle sold 12,695 shares of the firm’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares of the company’s stock, valued at $37,883,279.85. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 16,276 shares of company stock worth $3,936,252 in the last three months. Insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, September 17th.

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.