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

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, January 31st, 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 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Tuesday, March 4th.

Piper Sandler Companies has increased its dividend payment by an average of 8.6% annually over the last three years. Piper Sandler Companies has a payout ratio of 13.0% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Price Performance

NYSE:PIPR opened at $289.66 on Friday. The business’s 50-day simple moving average is $303.20 and its 200-day simple moving average is $309.24. Piper Sandler Companies has a fifty-two week low of $183.57 and a fifty-two week high of $351.80. The stock has a market capitalization of $5.15 billion, a PE ratio of 28.34 and a beta of 1.46.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data 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 posted $4.03 earnings per share. On average, research analysts expect that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Analysts Set New Price Targets

PIPR has been the subject of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a research note on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research report on Monday, February 3rd. Finally, StockNews.com cut Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, January 7th.

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.