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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, February 3rd,Wall Street Journal reports. Investors of record on Tuesday, March 4th will be given 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 by an average of 8.6% annually over the last three years. Piper Sandler Companies has a dividend payout ratio of 13.5% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Down 0.1 %

PIPR opened at $316.71 on Tuesday. The stock has a market cap of $5.63 billion, a PE 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. The business’s fifty day simple moving average is $302.03 and its 200 day simple moving average is $314.01.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, beating analysts’ consensus estimates 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 in the previous year, the firm earned $4.03 EPS. As a group, equities analysts anticipate that Piper Sandler Companies will post 13.47 earnings per share for the current year.

Analysts Set New Price Targets

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

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.