Medallion Financial (NASDAQ:MFIN) Rating Increased to Hold at Piper Sandler

Piper Sandler upgraded shares of Medallion Financial (NASDAQ:MFIN) to a hold rating in a research report report published on Friday morning,Zacks.com reports.

Several other research analysts also recently weighed in on MFIN. Weiss Ratings downgraded shares of Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 6th. Zacks Research downgraded shares of Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Medallion Financial presently has a consensus rating of “Hold” and an average target price of $11.25.

Medallion Financial Price Performance

Shares of MFIN stock opened at $9.81 on Friday. The company has a market capitalization of $233.97 million, a PE ratio of 6.63 and a beta of 0.78. The firm has a fifty day simple moving average of $9.39 and a 200-day simple moving average of $9.77. The company has a current ratio of 1.21, a quick ratio of 1.20 and a debt-to-equity ratio of 0.42. Medallion Financial has a twelve month low of $7.85 and a twelve month high of $11.00.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.05). The firm had revenue of $79.07 million during the quarter, compared to analysts’ expectations of $56.15 million. Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. Equities research analysts anticipate that Medallion Financial will post 1.12 earnings per share for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a dividend of $0.14 per share. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, May 11th. This represents a $0.56 dividend on an annualized basis and a yield of 5.7%. Medallion Financial’s payout ratio is currently 37.84%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Teton Advisors LLC bought a new position in Medallion Financial during the 3rd quarter valued at $606,000. De Lisle Partners LLP boosted its stake in Medallion Financial by 40.4% during the 4th quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock valued at $1,851,000 after acquiring an additional 51,822 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Medallion Financial by 10.6% during the 4th quarter. Ritholtz Wealth Management now owns 92,695 shares of the credit services provider’s stock valued at $954,000 after acquiring an additional 8,851 shares during the last quarter. Daytona Street Capital LLC bought a new position in Medallion Financial during the 4th quarter valued at $51,000. Finally, Jane Street Group LLC bought a new position in Medallion Financial during the 2nd quarter valued at $240,000. 40.56% of the stock is currently 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.