Institutional Financial Markets, Inc. (NYSEAMERICAN:COHN – Get Free Report)’s stock price crossed below its two hundred day moving average during trading on Monday. The stock has a two hundred day moving average of $13.46 and traded as low as $9.78. Institutional Financial Markets shares last traded at $9.90, with a volume of 9,973 shares traded.
Analyst Upgrades and Downgrades
A number of brokerages have issued reports on COHN. Northland Securities assumed coverage on shares of Institutional Financial Markets in a report on Thursday, July 9th. They issued an “outperform” rating and a $20.00 price target on the stock. Zacks Research raised Institutional Financial Markets to a “hold” rating in a report on Friday, July 10th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $20.00.
View Our Latest Research Report on COHN
Institutional Financial Markets Stock Performance
Institutional Financial Markets (NYSEAMERICAN:COHN – Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The financial services provider reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $1.20. Institutional Financial Markets had a return on equity of 47.14% and a net margin of 5.65%.The company had revenue of $69.49 million during the quarter, compared to analysts’ expectations of $40.30 million. Research analysts expect that Institutional Financial Markets, Inc. will post 1.9 EPS for the current year.
Institutional Financial Markets Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 2nd. Stockholders of record on Wednesday, August 19th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend was Wednesday, August 19th. Institutional Financial Markets’s payout ratio is currently 24.45%.
Insider Transactions at Institutional Financial Markets
In related news, EVP Joseph W. Jr. Pooler sold 7,295 shares of the firm’s stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $11.75, for a total value of $85,716.25. Following the transaction, the executive vice president owned 61,778 shares of the company’s stock, valued at $725,891.50. This trade represents a 10.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Circle 3 Sponsor Corp Columbus purchased 265,000 shares of Institutional Financial Markets stock in a transaction that occurred on Friday, July 10th. The stock was bought at an average cost of $10.00 per share, for a total transaction of $2,650,000.00. Following the purchase, the insider directly owned 265,000 shares in the company, valued at $2,650,000. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 71.51% of the company’s stock.
About Institutional Financial Markets
Institutional Financial Markets, Inc was a financial services company associated with the NYSE American ticker COHN. The company operated through businesses focused on capital markets and asset management, serving institutional investors, corporations and other financial institutions.
Its capital-markets activities included institutional brokerage, market making and trading in fixed-income and equity securities, as well as investment banking and corporate-finance services. Its asset-management operations focused on managing alternative and other investment strategies for institutional and private clients.
The company was founded by Daniel S.
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