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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) announced a quarterly dividend on Monday, October 28th, 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 dividend yield of 0.90%. The ex-dividend date is Friday, November 22nd.

Piper Sandler Companies has raised its dividend by an average of 24.3% annually over the last three years. Piper Sandler Companies has a dividend payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Piper Sandler Companies to earn $15.12 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 17.2%.

Piper Sandler Companies Trading Up 3.1 %

Shares of Piper Sandler Companies stock traded up $8.79 during mid-day trading on Monday, reaching $289.32. 170,974 shares of the stock were exchanged, compared to its average volume of 107,442. The company has a market capitalization of $5.12 billion, a P/E ratio of 49.20 and a beta of 1.39. Piper Sandler Companies has a fifty-two week low of $134.82 and a fifty-two week high of $306.10. The company has a 50-day simple moving average of $289.47.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last announced its earnings results on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, topping the consensus estimate of $2.26 by $0.26. The business had revenue of $357.00 million for the quarter, compared to the consensus estimate of $338.90 million. Piper Sandler Companies had a return on equity of 16.18% and a net margin of 10.84%. Piper Sandler Companies's revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS. On average, equities research analysts expect that Piper Sandler Companies will post 11.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company's stock in a transaction on Monday, August 5th. The stock was sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the transaction, the insider now owns 160,095 shares of the company's stock, valued at approximately $37,883,279.85. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Piper Sandler Companies news, insider Jonathan J. Doyle sold 12,695 shares of the company's stock in a transaction on Monday, August 5th. The shares were sold at an average price of $236.63, for a total transaction of $3,004,017.85. Following the completion of the sale, the insider now owns 160,095 shares in the company, valued at approximately $37,883,279.85. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, General Counsel John W. Geelan sold 1,789 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $256.73, for a total transaction of $459,289.97. Following the sale, the general counsel now owns 15,065 shares of the company's stock, valued at $3,867,637.45. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,276 shares of company stock valued at $3,936,252. 3.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a 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.

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