JMP Group LLC (NYSE:JMP) declared a monthly dividend on Monday, January 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, February 28th will be paid a dividend of 0.03 per share by the financial services provider on Thursday, March 15th. This represents a $0.36 annualized dividend and a yield of 6.55%. The ex-dividend date is Tuesday, February 27th.
JMP Group has increased its dividend payment by an average of 17.0% annually over the last three years. JMP Group has a payout ratio of 360.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect JMP Group to earn $0.43 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 83.7%.
Shares of JMP Group (NYSE JMP) traded up $0.06 during trading on Monday, reaching $5.50. 38,300 shares of the company’s stock traded hands, compared to its average volume of 29,454. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 7.31. JMP Group has a one year low of $5.20 and a one year high of $7.70. The company has a market cap of $118.39, a PE ratio of -8.59, a price-to-earnings-growth ratio of 1.28 and a beta of 0.80.
Several research analysts have issued reports on JMP shares. Zacks Investment Research upgraded shares of JMP Group from a “strong sell” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Thursday, November 9th. Keefe, Bruyette & Woods started coverage on shares of JMP Group in a report on Monday, October 16th. They set a “mkt perform” rating and a $5.75 target price on the stock.
JMP Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 13th that allows the company to buyback 1,000,000 outstanding shares. This buyback authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
In other JMP Group news, Director Thomas Rowe Wright bought 12,500 shares of the company’s stock in a transaction on Tuesday, November 28th. The shares were bought at an average cost of $5.33 per share, for a total transaction of $66,625.00. Following the acquisition, the director now directly owns 363,636 shares in the company, valued at $1,938,179.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 52.11% of the stock is owned by corporate insiders.
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JMP Group Company Profile
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.
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