Marlin Business Services (NASDAQ:MRLN) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $30.00 target price on the financial services provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 10.91% from the stock’s previous close.

According to Zacks, “Marlin Business Services Corp is a nationwide provider of equipment leasing solutions primarily to small businesses. Marlin finances over 60 categories of commercial equipment, including copiers, telephone systems, computers and certain commercial and industrial equipment. “

Other equities research analysts have also recently issued reports about the company. Keefe, Bruyette & Woods restated a “buy” rating and set a $29.00 target price on shares of Marlin Business Services in a report on Friday, December 22nd. ValuEngine cut Marlin Business Services from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, BidaskClub upgraded Marlin Business Services from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $29.33.

Shares of Marlin Business Services (MRLN) opened at $27.05 on Wednesday. The firm has a market capitalization of $335.51, a PE ratio of 13.46 and a beta of 1.19. Marlin Business Services has a fifty-two week low of $20.26 and a fifty-two week high of $29.95.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in Marlin Business Services by 4.0% in the 2nd quarter. State Street Corp now owns 166,164 shares of the financial services provider’s stock worth $4,180,000 after buying an additional 6,330 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Marlin Business Services by 2.8% in the 3rd quarter. Mutual of America Capital Management LLC now owns 230,701 shares of the financial services provider’s stock worth $6,633,000 after buying an additional 6,314 shares during the period. Northern Trust Corp lifted its holdings in Marlin Business Services by 7.8% in the 2nd quarter. Northern Trust Corp now owns 139,301 shares of the financial services provider’s stock worth $3,503,000 after buying an additional 10,067 shares during the period. Alliancebernstein L.P. lifted its holdings in Marlin Business Services by 40.8% in the 2nd quarter. Alliancebernstein L.P. now owns 16,900 shares of the financial services provider’s stock worth $425,000 after buying an additional 4,900 shares during the period. Finally, Kestrel Investment Management Corp purchased a new stake in Marlin Business Services in the 3rd quarter worth approximately $3,134,000. Institutional investors and hedge funds own 80.16% of the company’s stock.

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About Marlin Business Services

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

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