JMP Group LLC (NYSE:JMP) announced a monthly dividend on Monday, October 23rd, Wall Street Journal reports. Shareholders of record on Friday, December 29th will be given a dividend of 0.03 per share by the financial services provider on Monday, January 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.57%. The ex-dividend date is Thursday, December 28th.
JMP Group has raised its dividend by an average of 40.2% annually over the last three years and has increased its dividend every year for the last 7 years. JMP Group has a dividend payout ratio of 72.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect JMP Group to earn $0.60 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 60.0%.
Shares of JMP Group (NYSE:JMP) opened at $5.48 on Wednesday. The stock has a market capitalization of $117.74, a PE ratio of -8.70, a price-to-earnings-growth ratio of 1.10 and a beta of 0.90. JMP Group has a 52 week low of $5.20 and a 52 week high of $7.70. 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 declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 13th that authorizes the company to buyback 1,000,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.
In related news, Director Thomas Rowe Wright acquired 12,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 28th. The stock was bought at an average cost of $5.33 per share, for a total transaction of $66,625.00. Following the purchase, the director now owns 363,636 shares in the company, valued at approximately $1,938,179.88. 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.
JMP has been the subject of a number of recent research reports. Keefe, Bruyette & Woods initiated coverage on JMP Group in a research note on Monday, October 16th. They set a “mkt perform” rating and a $5.75 price objective for the company. Zacks Investment Research downgraded JMP Group from a “hold” rating to a “sell” rating in a research note on Wednesday, October 18th.
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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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