Medallion Financial (NASDAQ:MFIN) Announces Quarterly Earnings Results

Medallion Financial (NASDAQ:MFIN) released its quarterly earnings data on Wednesday. The credit services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09, Zacks reports. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.The firm had revenue of $55.92 million during the quarter, compared to the consensus estimate of $56.20 million.

Medallion Financial Stock Performance

MFIN stock traded down $0.07 during trading on Thursday, reaching $10.55. 41,568 shares of the stock were exchanged, compared to its average volume of 39,900. Medallion Financial has a twelve month low of $7.71 and a twelve month high of $11.00. The company has a market capitalization of $245.60 million, a P/E ratio of 6.17 and a beta of 0.77. The stock has a 50 day simple moving average of $10.32 and a 200-day simple moving average of $10.20. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43.

Medallion Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 19th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, March 19th. Medallion Financial’s dividend payout ratio is currently 28.07%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. Zacks Research lowered Medallion Financial from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 2nd. Finally, Wall Street Zen lowered shares of Medallion Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $12.00.

Institutional Trading of Medallion Financial

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC increased its position in shares of Medallion Financial by 1.6% in the 4th quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock valued at $4,186,000 after buying an additional 6,458 shares in the last quarter. Uniplan Investment Counsel Inc. grew its holdings in Medallion Financial by 34.5% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock worth $3,500,000 after purchasing an additional 87,321 shares during the period. State Street Corp lifted its holdings in Medallion Financial by 1.0% during the 4th quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock valued at $2,506,000 after purchasing an additional 2,462 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in Medallion Financial by 3.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 162,283 shares of the credit services provider’s stock worth $1,670,000 after acquiring an additional 5,374 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Medallion Financial by 83.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 129,949 shares of the credit services provider’s stock worth $1,337,000 after buying an additional 59,130 shares in the last quarter. 40.56% of the stock is owned by institutional investors.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.