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

Piper Sandler Companies (NYSE:PIPR) announced 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 raised its dividend by an average of 24.3% annually over the last three years and has increased 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 Stock Up 1.2 %

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

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

Insider Buying and Selling at Piper Sandler Companies

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 value of $914,502.40. Following the sale, the president now directly owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, President Debbra L. Schoneman sold 4,795 shares of Piper Sandler Companies 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 directly owns 12,140 shares of the company’s stock, valued at $2,315,340.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Chad R. Abraham sold 11,307 shares of Piper Sandler Companies stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $180.18, for a total value of $2,037,295.26. Following the sale, the chief executive officer now directly owns 24,116 shares in the company, valued at $4,345,220.88. The disclosure for this sale can be found here. Insiders have sold a total of 53,524 shares of company stock worth $9,838,711 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PIPR has been the subject of a number of research analyst reports. 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.

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.