Piper Sandler Companies (NYSE:PIPR) Declares Quarterly Dividend of $0.60

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Stockholders of record on Friday, May 24th will be paid a dividend of 0.60 per share by the financial services provider on Friday, June 7th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Thursday, May 23rd.

Piper Sandler Companies has increased its dividend by an average of 24.3% per year over the last three years. Piper Sandler Companies has a payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Up 0.4 %

Shares of NYSE:PIPR opened at $215.50 on Wednesday. The company has a market cap of $3.81 billion, a P/E ratio of 36.65 and a beta of 1.40. Piper Sandler Companies has a 52 week low of $124.46 and a 52 week high of $216.50. The business has a fifty day simple moving average of $203.17 and a 200-day simple moving average of $195.69.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.90. The firm had revenue of $335.29 million during the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a return on equity of 13.65% and a net margin of 7.33%. Piper Sandler Companies’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.35 earnings per share. Sell-side analysts expect that Piper Sandler Companies will post 11.82 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PIPR shares. StockNews.com raised Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th.

Insider Transactions at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 205 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $190.05, for a total value of $38,960.25. Following the sale, the president now directly owns 16,935 shares in the company, valued at approximately $3,218,496.75. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the completion of the transaction, the president now directly owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Debbra L. Schoneman sold 205 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $190.05, for a total value of $38,960.25. Following the transaction, the president now directly owns 16,935 shares of the company’s stock, valued at $3,218,496.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,125 shares of company stock worth $3,004,510. 3.00% of the stock is currently owned by company insiders.

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.