JMP Group LLC (NYSE:JMP) declared a monthly dividend on Thursday, January 18th, Zacks reports. Shareholders of record on Wednesday, January 31st will be paid a dividend of 0.03 per share by the financial services provider on Thursday, February 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.53%. The ex-dividend date is Tuesday, January 30th.
JMP Group has increased its dividend by an average of 17.0% per year over the last three years. JMP Group has a dividend 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 $0.01 during trading hours on Thursday, hitting $5.51. 10,100 shares of the company’s stock were exchanged, compared to its average volume of 27,544. JMP Group has a 1 year low of $5.20 and a 1 year high of $7.70. The firm has a market cap of $118.17, a price-to-earnings ratio of -8.75, a PEG ratio of 1.28 and a beta of 0.91. The company has a debt-to-equity ratio of 7.31, a quick ratio of 3.25 and a current ratio of 3.25.
JMP Group announced that its Board of Directors has authorized a share buyback program on Wednesday, December 13th that permits the company to buyback 1,000,000 shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.
JMP has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of JMP Group from a “strong sell” rating to a “buy” rating and set a $6.00 price target for the company in a report on Thursday, November 9th. Keefe, Bruyette & Woods initiated coverage on shares of JMP Group in a report on Monday, October 16th. They set a “mkt perform” rating and a $5.75 price target for the company.
In other news, Director Thomas Rowe Wright purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was bought at an average price of $5.33 per share, with a total value of $66,625.00. Following the acquisition, the director now owns 363,636 shares in the company, valued at approximately $1,938,179.88. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 52.11% of the company’s stock.
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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.
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