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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Friday, October 25th,Wall Street Journal reports. Investors of record on Friday, November 22nd will be paid 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 0.78%. The ex-dividend date is Friday, November 22nd.

Piper Sandler Companies has increased its dividend payment by an average of 24.3% annually over the last three years. Piper Sandler Companies has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Piper Sandler Companies to earn $13.47 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 19.3%.

Piper Sandler Companies Price Performance

NYSE:PIPR traded down $1.35 during mid-day trading on Wednesday, reaching $334.04. The stock had a trading volume of 1,632 shares, compared to its average volume of 108,020. The stock has a 50-day simple moving average of $309.59 and a two-hundred day simple moving average of $286.50. The stock has a market capitalization of $5.94 billion, a PE ratio of 35.83 and a beta of 1.39. Piper Sandler Companies has a 12 month low of $151.03 and a 12 month high of $347.15.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.04. The business had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. Equities analysts expect that Piper Sandler Companies will post 11.49 EPS for the current year.

Analyst Upgrades and Downgrades

PIPR has been the topic of a number of research analyst reports. StockNews.com lowered shares of Piper Sandler Companies from a “buy” rating to a “hold” rating in a research report on Monday, October 28th. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

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.