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

Piper Sandler Companies (NYSE:PIPRGet Rating) declared a quarterly dividend on Monday, May 2nd, Wall Street Journal reports. Stockholders of record on Friday, May 27th will be given a dividend of 0.60 per share on Friday, June 10th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, May 26th.

Piper Sandler Companies has a dividend payout ratio of 16.1% meaning its dividend is sufficiently covered by earnings.

NYSE PIPR opened at $119.25 on Tuesday. The firm has a market cap of $2.14 billion, a price-to-earnings ratio of 7.71 and a beta of 1.40. The company has a quick ratio of 1.01, a current ratio of 1.30 and a debt-to-equity ratio of 0.10. The business has a 50-day moving average price of $127.20 and a 200-day moving average price of $153.42. Piper Sandler Companies has a twelve month low of $110.45 and a twelve month high of $193.60.

Piper Sandler Companies (NYSE:PIPRGet Rating) last released its quarterly earnings data on Friday, April 29th. The company reported $3.12 earnings per share for the quarter, topping analysts’ consensus estimates of $2.80 by $0.32. The firm had revenue of $361.79 million during the quarter, compared to analyst estimates of $326.34 million. Piper Sandler Companies had a return on equity of 33.38% and a net margin of 13.57%. The business’s quarterly revenue was down 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.13 earnings per share. Research analysts expect that Piper Sandler Companies will post 13.81 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the business. Qtron Investments LLC purchased a new stake in shares of Piper Sandler Companies in the fourth quarter worth approximately $223,000. Flagship Harbor Advisors LLC purchased a new stake in shares of Piper Sandler Companies in the fourth quarter worth approximately $234,000. Janus Henderson Group PLC purchased a new stake in shares of Piper Sandler Companies in the third quarter worth approximately $255,000. Jane Street Group LLC purchased a new stake in shares of Piper Sandler Companies in the third quarter worth approximately $308,000. Finally, State of Tennessee Treasury Department raised its holdings in shares of Piper Sandler Companies by 5.1% in the fourth quarter. State of Tennessee Treasury Department now owns 11,599 shares of the company’s stock worth $2,070,000 after buying an additional 562 shares during the period. Institutional investors and hedge funds own 66.34% of the company’s stock.

A number of research firms recently commented on PIPR. JMP Securities decreased their target price on Piper Sandler Companies from $194.00 to $182.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 7th. Northland Securities decreased their target price on Piper Sandler Companies from $185.00 to $175.00 in a research report on Friday, February 11th. StockNews.com began coverage on Piper Sandler Companies in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research downgraded Piper Sandler Companies from a “hold” rating to a “sell” rating in a research report on Wednesday, April 13th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $181.20.

Piper Sandler Companies Company Profile (Get Rating)

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. The company offers investment banking and institutional sales, trading, and research services for various equity and fixed income products.

See Also

Dividend History for Piper Sandler Companies (NYSE:PIPR)

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