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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Monday, April 29th, Wall Street Journal reports. Investors of record on Friday, May 24th will be given 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 1.20%. The ex-dividend date is Thursday, May 23rd.

Piper Sandler Companies has increased its dividend payment by an average of 24.3% annually over the last three years and has raised its dividend every year for the last 1 years. Piper Sandler Companies has a payout ratio of 15.5% indicating that its dividend is sufficiently covered by earnings.

Piper Sandler Companies Price Performance

NYSE PIPR traded up $2.34 during mid-day trading on Monday, hitting $199.50. The stock had a trading volume of 147,125 shares, compared to its average volume of 95,667. The stock’s 50 day moving average is $194.02. Piper Sandler Companies has a twelve month low of $120.97 and a twelve month high of $202.76. The company has a market capitalization of $3.54 billion, a PE ratio of 33.93 and a beta of 1.42.

Piper Sandler Companies (NYSE:PIPR) last posted its quarterly earnings data on Friday, April 26th. The financial services provider reported $2.79 EPS for the quarter, beating the consensus estimate of $1.89 by $0.90. Piper Sandler Companies had a return on equity of 13.83% and a net margin of 7.33%. The firm had revenue of $335.29 million during the quarter, compared to the consensus estimate of $314.97 million. During the same period in the prior year, the company earned $2.35 EPS. The firm’s revenue was up 15.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Piper Sandler Companies will post 11.17 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PIPR shares. JMP Securities restated a “market perform” rating on shares of Piper Sandler Companies in a report on Tuesday, April 9th. StockNews.com upgraded Piper Sandler Companies from a “hold” rating to a “buy” rating in a report on Wednesday, February 28th.

Insider Transactions at Piper Sandler Companies

In other Piper Sandler Companies news, President Debbra L. Schoneman sold 4,795 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total value of $914,502.40. Following the sale, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The transaction 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 4,795 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $190.72, for a total transaction of $914,502.40. Following the sale, the president now owns 12,140 shares of the company’s stock, valued at approximately $2,315,340.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jonathan J. Doyle sold 19,987 shares of the firm’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $183.90, for a total value of $3,675,609.30. Following the sale, the insider now directly owns 176,227 shares in the company, valued at approximately $32,408,145.30. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,524 shares of company stock worth $9,838,711. 3.00% of the stock is currently owned by company insiders.

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.