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

Piper Sandler Companies (NYSE:PIPR - Get Free Report) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Shareholders of record on Friday, May 30th will be given 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 yield of 1.02%. The ex-dividend date is Friday, May 30th.

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

Piper Sandler Companies Trading Down 0.7 %

Shares of NYSE:PIPR traded down $1.69 during midday trading on Friday, hitting $254.50. 7,555 shares of the stock were exchanged, compared to its average volume of 119,532. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 24.90 and a beta of 1.50. Piper Sandler Companies has a 52-week low of $201.97 and a 52-week high of $351.80.

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

Wall Street Analyst Weigh In

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

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.