JMP Group (JMP) Upgraded by Zacks Investment Research to “Hold”

JMP Group (NYSE:JMP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Saturday.

According to Zacks, “JMP GROUP INC. is a full-service investment banking and asset management firm that provides investment banking, sales and trading, and equity research services to corporate and institutional clients and alternative asset management products to institutional and high-net-worth investors. JMP Group operates through two subsidiaries, JMP Securities and JMP Asset Management. The company focuses its resources on small and middle-market growth companies and the institutions that invest in them. They approach their work with the idea that expertise, intellectual capital and relationships can never be commoditized. “

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Separately, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $5.75 target price on shares of JMP Group in a research note on Thursday, January 11th.

Shares of JMP opened at $5.08 on Friday. JMP Group has a 52-week low of $4.92 and a 52-week high of $7.70. The firm has a market capitalization of $109.15, a price-to-earnings ratio of 25.40, a P/E/G ratio of 1.59 and a beta of 0.70. The company has a debt-to-equity ratio of 8.10, a current ratio of 2.56 and a quick ratio of 2.56.

JMP Group (NYSE:JMP) last issued its earnings results on Wednesday, February 14th. The financial services provider reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. JMP Group had a positive return on equity of 3.67% and a negative net margin of 14.48%. The business had revenue of $30.32 million during the quarter, compared to the consensus estimate of $31.70 million. sell-side analysts forecast that JMP Group will post 0.32 EPS for the current fiscal year.

JMP Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 13th that authorizes the company to repurchase 1,000,000 shares. This repurchase authorization authorizes the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

An institutional investor recently raised its position in JMP Group stock. Deutsche Bank AG grew its stake in JMP Group LLC (NYSE:JMP) by 55.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 122,216 shares of the financial services provider’s stock after acquiring an additional 43,483 shares during the quarter. Deutsche Bank AG owned about 0.57% of JMP Group worth $684,000 as of its most recent SEC filing. Institutional investors own 13.65% of the company’s stock.

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JMP Group Company Profile

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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