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

Piper Sandler Companies (NYSE:PIPR) declared 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 yield of 0.90%. 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 payout ratio of 13.0% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Shares of NYSE PIPR opened at $289.66 on Friday. The stock has a market cap of $5.15 billion, a P/E ratio of 28.34 and a beta of 1.46. Piper Sandler Companies has a 52-week low of $183.57 and a 52-week high of $351.80. The firm has a 50 day moving average price of $303.20 and a two-hundred day moving average price of $309.24.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 prior year, the business earned $4.03 earnings per share. Analysts predict that Piper Sandler Companies will post 14.14 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.