Piper Sandler Companies (NYSE:PIPR) Raises Dividend to $0.38 Per Share

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, October 30th, Zacks reports. Shareholders of record on Tuesday, November 24th will be paid a dividend of 0.375 per share on Friday, December 11th. This represents a $1.50 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, November 23rd. This is an increase from Piper Sandler Companies’s previous quarterly dividend of $0.30.

Piper Sandler Companies has a dividend payout ratio of 20.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Piper Sandler Companies to earn $5.73 per share next year, which means the company should continue to be able to cover its $1.50 annual dividend with an expected future payout ratio of 26.2%.

PIPR stock opened at $92.07 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.24 and a quick ratio of 0.61. Piper Sandler Companies has a 1 year low of $31.95 and a 1 year high of $94.91. The stock has a market capitalization of $1.65 billion, a PE ratio of 19.42 and a beta of 1.38. The company’s 50-day moving average is $84.08 and its 200-day moving average is $69.36.

PIPR has been the topic of several research analyst reports. ValuEngine cut Piper Sandler Companies from a “sell” rating to a “strong sell” rating in a research report on Friday, November 13th. JMP Securities boosted their price objective on Piper Sandler Companies from $71.00 to $86.00 and gave the stock a “market outperform” rating in a research report on Friday, October 9th. Finally, Northland Securities boosted their price objective on Piper Sandler Companies from $70.00 to $80.00 in a research report on Friday, August 21st.

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

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