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.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/10/23/jmp-group-llc-jmp-declares-monthly-dividend-of-0-03.html.

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)

Receive News & Ratings for JMP Group LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for JMP Group LLC and related companies with MarketBeat.com's FREE daily email newsletter.