Piper Sandler Companies (NYSE:PIPR) Raises Dividend to $0.70 Per Share

Key Points

• Piper Sandler Companies has raised its quarterly dividend to $0.70 per share, marking a 7.7% increase from its previous dividend of $0.65.
• The financial services provider reported $2.95 earnings per share (EPS) for the latest quarter, significantly exceeding analyst expectations of $1.99, and showed a 13.4% year-over-year revenue growth.
• Piper Sandler's current payout ratio is 14.5%, indicating that its dividend is well-covered by earnings.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) declared a quarterly dividend on Friday, August 1st, RTT News reports. Shareholders of record on Friday, August 29th will be paid a dividend of 0.70 per share by the financial services provider on Friday, September 12th. This represents a c) dividend on an annualized basis and a yield of 0.9%. This is a 7.7% increase from Piper Sandler Companies's previous quarterly dividend of $0.65.

Piper Sandler Companies has a payout ratio of 14.5% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Trading Down 2.0%

Shares of PIPR opened at $312.11 on Friday. The firm has a market capitalization of $5.55 billion, a PE ratio of 27.28 and a beta of 1.48. Piper Sandler Companies has a 1-year low of $202.91 and a 1-year high of $351.80. The company's 50-day moving average is $280.54.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last released its earnings results on Friday, August 1st. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.96. Piper Sandler Companies had a net margin of 13.20% and a return on equity of 18.32%. The business had revenue of $405.39 million for the quarter, compared to analysts' expectations of $349.40 million. During the same period last year, the company earned $2.52 earnings per share. The company's quarterly revenue was up 13.4% on a year-over-year basis. Equities analysts forecast that Piper Sandler Companies will post 14.14 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PIPR has been the topic of several research analyst reports. JMP Securities reissued a "market perform" rating on shares of Piper Sandler Companies in a research report on Monday, May 5th. Wolfe Research raised shares of Piper Sandler Companies from a "peer perform" rating to an "outperform" rating and set a $339.00 target price on the stock in a research report on Thursday, July 10th.

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.

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