Piper Sandler Companies (NYSE:PIPR) Declares Quarterly Dividend of $0.20

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, May 1st. Shareholders of record on Friday, May 29th will be paid a dividend of 0.20 per share on Friday, June 12th. This represents a c) dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Friday, May 29th. This is a 14.3% increase from Piper Sandler Companies’s previous quarterly dividend of $0.18.

Piper Sandler Companies has increased its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Piper Sandler Companies has a dividend payout ratio of 4.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Piper Sandler Companies to earn $5.38 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 14.9%.

Piper Sandler Companies Trading Up 0.2%

Shares of NYSE PIPR opened at $80.83 on Wednesday. Piper Sandler Companies has a twelve month low of $61.96 and a twelve month high of $95.07. The stock has a 50 day moving average of $80.93 and a two-hundred day moving average of $82.96. The stock has a market cap of $5.74 billion, a P/E ratio of 20.41, a P/E/G ratio of 1.62 and a beta of 1.47.

Piper Sandler Companies (NYSE:PIPR) last issued its quarterly earnings data on Thursday, May 7th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.15. Piper Sandler Companies had a return on equity of 21.09% and a net margin of 13.94%.The company had revenue of $469.54 million during the quarter, compared to analysts’ expectations of $436.30 million. During the same quarter in the previous year, the business earned $4.09 earnings per share. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, research analysts predict that Piper Sandler Companies will post 4.57 earnings per share for the current year.

Institutional Investors Weigh In On Piper Sandler Companies

Large investors have recently modified their holdings of the stock. EverSource Wealth Advisors LLC raised its stake in shares of Piper Sandler Companies by 89.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Piper Sandler Companies by 1,440.0% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 77 shares of the company’s stock worth $26,000 after purchasing an additional 72 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Piper Sandler Companies during the fourth quarter worth approximately $28,000. UMB Bank n.a. raised its stake in shares of Piper Sandler Companies by 55.2% during the fourth quarter. UMB Bank n.a. now owns 90 shares of the company’s stock worth $31,000 after purchasing an additional 32 shares during the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of Piper Sandler Companies during the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 72.79% of the company’s stock.

About Piper Sandler Companies

Piper Sandler Companies (NYSE: PIPR) is an investment bank and institutional securities firm that provides a range of capital markets and advisory services to corporations, institutions, municipalities and high-net-worth individuals. The firm’s core activities include investment banking and M&A advisory, underwriting and distribution of equity and debt securities, public finance, and sector-focused advisory across industries such as healthcare, energy, financial services and technology.

In addition to traditional investment banking, Piper Sandler offers equity and fixed income research, institutional sales and trading, and market-making services.