JMP Group LLC (NYSE:JMP) declared a monthly dividend on Friday, October 19th, Wall Street Journal reports. Shareholders of record on Wednesday, October 31st will be paid a dividend of 0.03 per share by the financial services provider on Thursday, November 15th. This represents a $0.36 annualized dividend and a yield of 7.10%. The ex-dividend date is Tuesday, October 30th.
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 105.9% meaning 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 $0.42 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 85.7%.
NYSE:JMP traded up $0.05 on Friday, hitting $5.07. The stock had a trading volume of 19,466 shares, compared to its average volume of 23,185. The stock has a market capitalization of $109.84 million, a price-to-earnings ratio of 25.35 and a beta of 0.59. The company has a debt-to-equity ratio of 10.48, a quick ratio of 1.96 and a current ratio of 1.96. JMP Group has a 52-week low of $4.80 and a 52-week high of $5.78.
Several research analysts have issued reports on JMP shares. Barrington Research reissued a “buy” rating and issued a $8.00 target price on shares of JMP Group in a research report on Thursday, October 11th. Zacks Investment Research raised JMP Group from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research report on Thursday, October 11th. TheStreet raised JMP Group from a “d+” rating to a “c-” rating in a research report on Friday, July 6th. Finally, ValuEngine cut JMP Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. JMP Group presently has a consensus rating of “Hold” and an average target price of $6.42.
In related news, CEO Joseph A. Jolson acquired 5,004 shares of the stock in a transaction dated Monday, October 8th. The shares were purchased at an average cost of $5.00 per share, with a total value of $25,020.00. Following the transaction, the chief executive officer now directly owns 77,026 shares in the company, valued at $385,130. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph A. Jolson acquired 30,766 shares of the stock in a transaction dated Monday, October 15th. The shares were bought at an average cost of $5.05 per share, for a total transaction of $155,368.30. Following the completion of the transaction, the chief executive officer now owns 77,026 shares in the company, valued at $388,981.30. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 36,170 shares of company stock worth $182,408. Insiders own 52.75% of the company’s stock.
JMP Group Company Profile
JMP Group LLC, together with its subsidiaries, provides investment banking, sales and trading, equity research, and asset management products and services in the United States. The company operates through three segments: Broker-Dealer, Asset Management, and Corporate. The Broker-Dealer segment offers various 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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