JMP Group LLC (NYSE:JMP) announced a monthly dividend on Monday, October 23rd, Wall Street Journal reports. Investors of record on Tuesday, October 31st will be given a dividend of 0.03 per share by the financial services provider on Wednesday, November 15th. This represents a $0.36 dividend on an annualized basis and a yield of 6.56%. The ex-dividend date is Monday, October 30th.

JMP Group has raised its dividend payment by an average of 40.2% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. JMP Group has a payout ratio of 112.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect JMP Group to earn $0.41 per share next year, which means the company should continue to be able to cover its $0.36 annual dividend with an expected future payout ratio of 87.8%.

Shares of JMP Group (JMP) traded down 1.96% during midday trading on Monday, hitting $5.49. The stock had a trading volume of 15,698 shares. The stock’s 50-day moving average is $5.49 and its 200-day moving average is $5.51. JMP Group has a 12 month low of $5.20 and a 12 month high of $7.70. The stock’s market cap is $118.24 million.

JMP Group (NYSE:JMP) last posted its earnings results on Tuesday, August 1st. The financial services provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $23.14 million during the quarter, compared to analyst estimates of $25.20 million. JMP Group had a negative net margin of 10.35% and a positive return on equity of 1.52%. Equities analysts anticipate that JMP Group will post $0.28 EPS for the current year.

In other news, Director Glenn H. Tongue bought 10,000 shares of JMP Group stock in a transaction on Thursday, August 3rd. The stock was purchased at an average cost of $5.41 per share, with a total value of $54,100.00. Following the purchase, the director now directly owns 155,652 shares of the company’s stock, valued at approximately $842,077.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 52.11% of the company’s stock.

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A number of research analysts have issued reports on JMP shares. Zacks Investment Research raised shares of JMP Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Keefe, Bruyette & Woods started coverage on shares of JMP Group in a research note on Monday, October 16th. They set a “mkt perform” rating and a $5.75 target price for the company.

About JMP Group

JMP Group LLC, formerly JMP Group, Inc, is a full-service investment banking and asset management firm. The Company operates in five segments: Broker-Dealer, Asset Management, Corporate Credit, Investment Income and Corporate Costs. The Broker-Dealer segment includes a range of services, such as underwriting and acting as a placement agent for public and private capital markets raising transactions and financial advisory services in mergers and acquisitions, restructuring and other strategic transactions.

Dividend History for JMP Group (NYSE:JMP)

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