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

by · The Markets Daily

Piper Sandler Companies (NYSE:PIPR – Get Free Report) declared a quarterly dividend on Friday, October 25th,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 yield of 0.78%. The ex-dividend date of this dividend is Friday, November 22nd.

Piper Sandler Companies has increased its dividend by an average of 24.3% annually over the last three years. Piper Sandler Companies has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Piper Sandler Companies to earn $13.47 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 19.3%.

Piper Sandler Companies Stock Down 0.3 %

Shares of PIPR traded down $1.07 during trading on Wednesday, reaching $334.32. The company’s stock had a trading volume of 7,825 shares, compared to its average volume of 108,047. The company has a market cap of $5.94 billion, a price-to-earnings ratio of 35.83 and a beta of 1.39. The company has a fifty day moving average of $309.59 and a two-hundred day moving average of $286.50. Piper Sandler Companies has a twelve month low of $151.03 and a twelve month high of $347.15.

Piper Sandler Companies (NYSE:PIPR – Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $2.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.04. The firm had revenue of $359.57 million for the quarter, compared to analysts’ expectations of $365.07 million. Piper Sandler Companies had a net margin of 10.84% and a return on equity of 16.06%. As a group, equities analysts forecast that Piper Sandler Companies will post 11.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on PIPR. StockNews.com downgraded Piper Sandler Companies from a “buy” rating to a “hold” rating in a research note on Monday, October 28th. JMP Securities reiterated a “market perform” rating on shares of Piper Sandler Companies in a research report on Tuesday, September 17th.

Get Our Latest Analysis on PIPR

About Piper Sandler Companies

(Get Free Report)

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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