JMP Group LLC (NYSE:JMP) declared 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 yield of 6.57%. The ex-dividend date of this dividend is Thursday, December 28th.
JMP Group has increased its dividend payment by an average of 40.2% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. JMP Group has a payout ratio of 72.0% meaning 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%.
JMP Group (JMP) opened at $5.48 on Friday. The company has a quick ratio of 3.25, a current ratio of 3.25 and a debt-to-equity ratio of 7.31. The firm has a market cap of $115.60, a PE ratio of 31.65, a P/E/G ratio of 1.08 and a beta of 0.90. JMP Group has a fifty-two week low of $5.20 and a fifty-two week high of $7.70.
A number of brokerages recently weighed in on JMP. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $6.00 price target on shares of JMP Group in a report on Friday, November 3rd. Zacks Investment Research upgraded JMP Group from a “strong sell” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Thursday, November 9th.
JMP Group declared that its Board of Directors has authorized a share buyback program on Wednesday, December 13th that authorizes the company to repurchase 1,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In other news, Director Thomas Rowe Wright acquired 12,500 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were acquired 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 of the company’s stock, valued at approximately $1,938,179.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 52.11% of the company’s stock.
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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