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

Piper Sandler Companies (NYSE:PIPR) declared a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Shareholders of record on Thursday, August 29th will be given a dividend of 0.65 per share by the financial services provider on Friday, September 13th. This represents a $2.60 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 29th. This is a positive change from Piper Sandler Companies’s previous quarterly dividend of $0.60.

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 16.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Piper Sandler Companies to earn $15.12 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 17.2%.

Piper Sandler Companies Stock Down 0.7 %

Piper Sandler Companies stock opened at $271.95 on Tuesday. The stock has a 50-day simple moving average of $262.28 and a 200 day simple moving average of $236.54. The stock has a market capitalization of $4.81 billion, a price-to-earnings ratio of 46.25 and a beta of 1.41. Piper Sandler Companies has a 12-month low of $130.89 and a 12-month high of $280.45.

Piper Sandler Companies (NYSE:PIPR) last announced its quarterly earnings data on Friday, August 2nd. The financial services provider reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.26. The firm had revenue of $357.00 million for the quarter, compared to analyst estimates of $338.90 million. Piper Sandler Companies had a return on equity of 15.36% and a net margin of 9.23%. The business’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period last year, the company earned $1.13 EPS. As a group, sell-side analysts anticipate that Piper Sandler Companies will post 11.53 EPS for the current year.

Insider Activity

In other news, Director Philip Soran sold 1,792 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now owns 18,341 shares in the company, valued at approximately $4,840,556.72. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Piper Sandler Companies news, General Counsel John W. Geelan sold 1,789 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $256.73, for a total transaction of $459,289.97. Following the completion of the sale, the general counsel now owns 15,065 shares of the company’s stock, valued at approximately $3,867,637.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Philip Soran sold 1,792 shares of Piper Sandler Companies stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $263.92, for a total transaction of $472,944.64. Following the sale, the director now directly owns 18,341 shares in the company, valued at $4,840,556.72. The disclosure for this sale can be found here. Insiders sold 16,276 shares of company stock worth $3,936,252 in the last quarter. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analyst Weigh In

Separately, JMP Securities reaffirmed a “market perform” rating on shares of Piper Sandler Companies in a research note on Tuesday, June 11th.

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.