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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) declared a quarterly dividend on Friday, January 31st,Wall Street Journal reports. Investors 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 0.81%. 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% annually over the last three years. Piper Sandler Companies has a payout ratio of 13.5% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Trading Down 1.3 %

Shares of Piper Sandler Companies stock traded down $4.06 during mid-day trading on Thursday, hitting $319.62. 97,400 shares of the stock were exchanged, compared to its average volume of 95,846. The stock has a market capitalization of $5.68 billion, a price-to-earnings ratio of 31.27 and a beta of 1.46. Piper Sandler Companies has a twelve month low of $177.80 and a twelve month high of $351.80. The company has a 50-day simple moving average of $304.59 and a 200 day simple moving average of $314.98.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, January 31st. The financial services provider reported $4.80 EPS for the quarter, topping the consensus estimate of $3.99 by $0.81. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. During the same period in the previous year, the company posted $4.03 earnings per share. Equities research analysts forecast that Piper Sandler Companies will post 13.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PIPR has been the topic of several research analyst reports. StockNews.com lowered Piper Sandler Companies from a "buy" rating to a "hold" rating in a research note on Tuesday, January 7th. JMP Securities reaffirmed a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday. 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.

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.