Medallion Financial (NASDAQ:MFIN) Announces Earnings Results

Medallion Financial (NASDAQ:MFIN) released its quarterly earnings results on Wednesday. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05), Zacks reports. Medallion Financial had a net margin of 12.18% and a return on equity of 9.38%.

Medallion Financial Stock Performance

NASDAQ:MFIN traded down $0.15 during mid-day trading on Wednesday, hitting $9.26. 23,258 shares of the company traded hands, compared to its average volume of 53,923. The stock’s fifty day moving average price is $9.30 and its 200-day moving average price is $9.83. Medallion Financial has a one year low of $7.85 and a one year high of $11.00. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The firm has a market cap of $217.89 million, a price-to-earnings ratio of 5.20 and a beta of 0.84.

Medallion Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend was Thursday, March 19th. Medallion Financial’s payout ratio is currently 26.97%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MFIN shares. Weiss Ratings lowered shares of Medallion Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, April 8th. Zacks Research upgraded shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Medallion Financial presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Institutional Trading of Medallion Financial

Several hedge funds have recently bought and sold shares of MFIN. 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 valued at $3,500,000 after purchasing an additional 87,321 shares during the period. Mariner LLC bought a new stake in Medallion Financial during the fourth quarter valued at about $739,000. Goldman Sachs Group Inc. grew its holdings in 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 valued at $1,337,000 after purchasing an additional 59,130 shares during the period. Two Sigma Investments LP grew its holdings in Medallion Financial by 43.1% during the third quarter. Two Sigma Investments LP now owns 86,634 shares of the credit services provider’s stock valued at $875,000 after purchasing an additional 26,091 shares during the period. Finally, Jane Street Group LLC bought a new stake in Medallion Financial during the second quarter valued at about $240,000. Institutional investors own 40.56% of the company’s stock.

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.