Piper Sandler Companies (PIPR) to Issue Quarterly Dividend of $0.65 on March 14th

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, January 31st, Wall Street Journal reports. Stockholders 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 dividend yield of 0.90%. The ex-dividend date 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 Trading Up 2.9 %

NYSE PIPR opened at $289.66 on Friday. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 28.34 and a beta of 1.46. The company has a 50 day moving average of $303.20 and a 200-day moving average of $309.24. Piper Sandler Companies has a 1-year low of $183.57 and a 1-year high of $351.80.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, January 31st. The financial services provider reported $4.80 earnings per share 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 in the previous year, the firm posted $4.03 earnings per share. On average, equities research analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on PIPR shares. The Goldman Sachs Group upped their price target on shares of Piper Sandler Companies from $298.00 to $330.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a report on Monday, February 3rd. Finally, StockNews.com lowered Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note 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.