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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 30th will be paid a dividend of 0.65 per share by the financial services provider on Friday, June 13th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, May 30th.

Piper Sandler Companies has increased its dividend payment by an average of 8.6% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Piper Sandler Companies has a payout ratio of 13.9% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Down 1.9 %

PIPR stock traded down $4.75 during midday trading on Friday, reaching $251.44. 131,785 shares of the company's stock traded hands, compared to its average volume of 120,389. Piper Sandler Companies has a fifty-two week low of $201.97 and a fifty-two week high of $351.80. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 24.60 and a beta of 1.50.

Piper Sandler Companies (NYSE:PIPR - Get Free Report) last posted its earnings results on Friday, May 2nd. The financial services provider reported $4.09 earnings per share for the quarter, beating the consensus estimate of $2.85 by $1.24. Piper Sandler Companies had a net margin of 11.87% and a return on equity of 17.00%. The business had revenue of $357.27 million for the quarter, compared to analyst estimates of $366.99 million. During the same quarter in the previous year, the business posted $2.79 EPS. The business's quarterly revenue was up 14.7% on a year-over-year basis. On average, equities analysts forecast that Piper Sandler Companies will post 14.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of recent research reports. JMP Securities reiterated a "market perform" rating on shares of Piper Sandler Companies in a research note on Monday, May 5th. The Goldman Sachs Group lowered their price objective on shares of Piper Sandler Companies from $321.00 to $286.00 and set a "neutral" rating for the company in a research report on Friday, March 14th.

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.