Piper Sandler Companies (PIPR) to Issue Quarterly Dividend of $0.20 on September 11th

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Friday, August 28th will be given a dividend of 0.20 per share on Friday, September 11th. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, August 28th.

Piper Sandler Companies has increased its dividend payment by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. Piper Sandler Companies has a dividend payout ratio of 4.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Piper Sandler Companies to earn $5.34 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 15.0%.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $74.75 on Wednesday. Piper Sandler Companies has a 52-week low of $68.70 and a 52-week high of $95.07. The company has a fifty day moving average of $75.68 and a 200-day moving average of $78.37. The company has a market capitalization of $5.28 billion, a P/E ratio of 17.32, a P/E/G ratio of 1.73 and a beta of 1.43.

Piper Sandler Companies (NYSE:PIPR) last released its earnings results on Thursday, July 30th. The company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.16. Piper Sandler Companies had a return on equity of 21.92% and a net margin of 14.51%.The business had revenue of $491.14 million for the quarter, compared to analysts’ expectations of $445.28 million. During the same quarter in the prior year, the firm earned $2.92 earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. As a group, analysts forecast that Piper Sandler Companies will post 4.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. California State Teachers Retirement System purchased a new position in Piper Sandler Companies during the 2nd quarter valued at about $435,408,000. Vanguard Group Inc. raised its position in Piper Sandler Companies by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 2,128,150 shares of the company’s stock valued at $722,954,000 after purchasing an additional 17,964 shares during the last quarter. Invesco Ltd. lifted its holdings in Piper Sandler Companies by 0.3% in the 4th quarter. Invesco Ltd. now owns 716,829 shares of the company’s stock worth $243,514,000 after buying an additional 2,285 shares during the period. Bank of New York Mellon Corp lifted its holdings in Piper Sandler Companies by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 573,217 shares of the company’s stock worth $41,466,000 after buying an additional 2,967 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Piper Sandler Companies by 6.4% in the 4th quarter. JPMorgan Chase & Co. now owns 294,624 shares of the company’s stock worth $100,087,000 after buying an additional 17,694 shares during the last quarter. 72.79% of the stock is owned by institutional investors.

Piper Sandler Companies Company Profile

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.