JMP Group LLC (NYSE:JMP) declared a monthly dividend on Thursday, July 20th, Fidelity reports. Stockholders of record on Monday, July 31st will be given a dividend of 0.03 per share by the financial services provider on Tuesday, August 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 6.73%. The ex-dividend date of this dividend is Thursday, July 27th.
JMP Group has raised its dividend payment by an average of 40.2% annually over the last three years and has raised its dividend every year for the last 7 years. JMP Group has a payout ratio of 102.9% 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 $0.45 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 80.0%.
JMP Group (NYSE:JMP) opened at 5.3519 on Friday. The stock’s market capitalization is $115.60 million. The stock has a 50 day moving average price of $5.46 and a 200-day moving average price of $5.83. JMP Group has a 12-month low of $5.20 and a 12-month high of $7.70.
JMP Group (NYSE:JMP) last issued its earnings results on Tuesday, August 1st. The financial services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. JMP Group had a positive return on equity of 1.52% and a negative net margin of 10.35%. The firm had revenue of $23.14 million for the quarter, compared to the consensus estimate of $25.20 million. Equities research analysts expect that JMP Group will post $0.33 EPS for the current year.
In related news, Director Glenn H. Tongue purchased 10,000 shares of JMP Group stock in a transaction on Thursday, August 3rd. The stock was bought at an average price of $5.41 per share, with a total value of $54,100.00. Following the completion of the transaction, the director now directly owns 155,652 shares of the company’s stock, valued at $842,077.32. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Raymond Jackson sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $7.50, for a total value of $375,000.00. Following the completion of the sale, the chief financial officer now directly owns 146,664 shares of the company’s stock, valued at approximately $1,099,980. The disclosure for this sale can be found here. Insiders own 52.11% of the company’s stock.
Separately, Zacks Investment Research upgraded JMP Group from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 26th.
About JMP Group
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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