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

Piper Sandler Companies has a payout ratio of 20.5% meaning its dividend is sufficiently covered by earnings. Equities 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%.

Piper Sandler Companies stock opened at $92.07 on Friday. The business’s 50-day simple moving average is $84.08 and its 200 day simple moving average is $69.36. The stock has a market cap of $1.65 billion, a price-to-earnings ratio of 19.42 and a beta of 1.38. Piper Sandler Companies has a 12-month low of $31.95 and a 12-month high of $94.91. The company has a quick ratio of 0.61, a current ratio of 1.24 and a debt-to-equity ratio of 0.24.

PIPR has been the topic of several recent research reports. ValuEngine cut Piper Sandler Companies from a “sell” rating to a “strong sell” rating in a report on Friday, November 13th. JMP Securities raised their price target on Piper Sandler Companies from $71.00 to $86.00 and gave the company a “market outperform” rating in a report on Friday, October 9th. Finally, Northland Securities increased their target price on Piper Sandler Companies from $70.00 to $80.00 in a research note 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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