Piper Sandler Companies (PIPR) To Go Ex-Dividend on November 20th

Piper Sandler Companies (NYSE:PIPR) announced a quarterly dividend on Friday, October 27th, Zacks reports. Investors of record on Tuesday, November 21st will be given a dividend of 0.60 per share by the financial services provider on Friday, December 8th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date of this dividend is Monday, November 20th.

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 $10.24 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 23.4%.

Piper Sandler Companies Stock Performance

NYSE PIPR opened at $154.96 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.33 and a quick ratio of 0.63. Piper Sandler Companies has a 1-year low of $120.97 and a 1-year high of $162.20. The business has a 50 day simple moving average of $141.98 and a two-hundred day simple moving average of $141.52. The stock has a market capitalization of $2.74 billion, a PE ratio of 36.98 and a beta of 1.36.

Piper Sandler Companies (NYSE:PIPR) last announced its earnings results on Friday, October 27th. The financial services provider reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.70 by $0.06. Piper Sandler Companies had a net margin of 5.64% and a return on equity of 12.38%. The firm had revenue of $289.49 million for the quarter, compared to analysts’ expectations of $295.40 million. On average, research analysts predict that Piper Sandler Companies will post 7.81 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $170.00 price target on shares of Piper Sandler Companies in a research note on Monday, October 30th. StockNews.com began coverage on Piper Sandler Companies in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Hedge Funds Weigh In On Piper Sandler Companies

A number of hedge funds have recently added to or reduced their stakes in PIPR. Steward Partners Investment Advisory LLC raised its holdings in shares of Piper Sandler Companies by 328.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 227 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 174 shares in the last quarter. Belpointe Asset Management LLC raised its holdings in shares of Piper Sandler Companies by 67.0% in the 1st quarter. Belpointe Asset Management LLC now owns 344 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 138 shares in the last quarter. Stephens Inc. AR lifted its position in shares of Piper Sandler Companies by 706.0% in the 2nd quarter. Stephens Inc. AR now owns 403 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 353 shares during the period. Tower Research Capital LLC TRC boosted its stake in shares of Piper Sandler Companies by 275.4% during the first quarter. Tower Research Capital LLC TRC now owns 518 shares of the financial services provider’s stock valued at $72,000 after purchasing an additional 380 shares in the last quarter. Finally, Metropolitan Life Insurance Co NY increased its holdings in Piper Sandler Companies by 8.2% during the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,093 shares of the financial services provider’s stock valued at $142,000 after buying an additional 83 shares during the period. 67.23% of the stock is currently owned by institutional investors.

Piper Sandler Companies Company Profile

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 and institutional sales, trading, and research services for various equity and fixed income products.