Piper Sandler Companies (NYSE:PIPR) Plans Quarterly Dividend of $0.60

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Friday, April 26th, Wall Street Journal reports. Investors 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 of this dividend 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 payout ratio of 15.2% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Stock Performance

Shares of PIPR opened at $215.50 on Wednesday. The firm has a market cap of $3.81 billion, a PE ratio of 36.65 and a beta of 1.40. The firm’s 50 day moving average price is $203.17 and its 200 day moving average price is $195.69. Piper Sandler Companies has a twelve month low of $124.46 and a twelve month high of $216.50.

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

Insider Activity at Piper Sandler Companies

In related news, President Debbra L. Schoneman sold 1,022 shares of Piper Sandler Companies stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total value of $217,961.94. Following the completion of the transaction, the president now directly owns 43,083 shares of the company’s stock, valued at $9,188,311.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Piper Sandler Companies news, President Debbra L. Schoneman sold 1,022 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $213.27, for a total transaction of $217,961.94. Following the completion of the sale, the president now directly owns 43,083 shares of the company’s stock, valued at approximately $9,188,311.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel John W. Geelan sold 1,570 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $211.14, for a total value of $331,489.80. Following the sale, the general counsel now directly owns 16,854 shares of the company’s stock, valued at $3,558,553.56. The disclosure for this sale can be found here. Insiders sold 15,125 shares of company stock valued at $3,004,510 over the last ninety days. 3.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

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.