Piper Sandler Companies (NYSE:PIPR) to Issue $0.60 Quarterly Dividend

Piper Sandler Companies (NYSE:PIPRGet Free Report) announced a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Shareholders of record on Friday, May 24th will be paid a dividend of 0.60 per share by the financial services provider on Friday, June 7th. This represents a $2.40 annualized dividend and a yield of 1.11%. The ex-dividend date is Thursday, May 23rd.

Piper Sandler Companies has increased its dividend by an average of 24.3% per year over the last three years. Piper Sandler Companies has a dividend payout ratio of 15.2% meaning its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Shares of PIPR stock opened at $215.50 on Wednesday. The firm’s 50-day simple moving average is $203.17 and its two-hundred day simple moving average is $195.69. Piper Sandler Companies has a 52 week low of $124.46 and a 52 week high of $216.50. The firm has a market cap of $3.81 billion, a price-to-earnings ratio of 36.65 and a beta of 1.40.

Piper Sandler Companies (NYSE:PIPRGet Free Report) last posted its quarterly earnings results on Friday, April 26th. The financial services provider reported $2.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.90. The company had revenue of $335.29 million for the quarter, compared to analyst estimates of $314.97 million. Piper Sandler Companies had a net margin of 7.33% and a return on equity of 13.65%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.35 earnings per share. Analysts forecast that Piper Sandler Companies will post 11.82 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th. JMP Securities reissued a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, April 9th.

Check Out Our Latest Research Report on Piper Sandler Companies

Insiders Place Their Bets

In other news, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the sale, the president now owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, President Debbra L. Schoneman sold 1,022 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the sale, the president now owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Debbra L. Schoneman sold 3,978 shares of the company’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $212.29, for a total transaction of $844,489.62. Following the completion of the sale, the president now directly owns 44,105 shares of the company’s stock, valued at approximately $9,363,050.45. The disclosure for this sale can be found here. Insiders sold a total of 15,125 shares of company stock valued at $3,004,510 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

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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Dividend History for Piper Sandler Companies (NYSE:PIPR)

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