Medallion Financial Corp. (NASDAQ:MFIN) Given Consensus Rating of “Hold” by Brokerages

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have been given a consensus rating of “Hold” by the five brokerages that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.25.

Several research firms have weighed in on MFIN. Weiss Ratings raised Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Raymond James Financial assumed coverage on Medallion Financial in a research report on Thursday. They set a “market perform” rating for the company. Zacks Research upgraded Medallion Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler began coverage on shares of Medallion Financial in a report on Friday, June 12th. They issued a “neutral” rating and a $10.50 price target on the stock.

Hedge Funds Weigh In On Medallion Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. Sei Investments Co. increased its position in Medallion Financial by 124.0% in the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after buying an additional 271,789 shares during the last quarter. Uniplan Investment Counsel Inc. lifted its position in shares of Medallion Financial by 34.5% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after buying an additional 87,321 shares during the last quarter. Mariner LLC purchased a new position in shares of Medallion Financial during the 4th quarter valued at $739,000. Goldman Sachs Group Inc. grew its stake in shares of Medallion Financial by 83.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 129,949 shares of the credit services provider’s stock worth $1,337,000 after acquiring an additional 59,130 shares during the period. Finally, De Lisle Partners LLP grew its stake in shares of 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 worth $1,851,000 after acquiring an additional 51,822 shares during the period. 40.56% of the stock is owned by institutional investors.

Medallion Financial Price Performance

Medallion Financial stock opened at $9.83 on Thursday. Medallion Financial has a 52 week low of $7.85 and a 52 week high of $11.00. The company’s 50 day moving average price is $9.68 and its two-hundred day moving average price is $9.73. The stock has a market cap of $227.17 million, a P/E ratio of 6.64 and a beta of 0.78. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.42.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The business had revenue of $79.07 million during the quarter, compared to the consensus estimate of $56.15 million. Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. On average, equities analysts predict that Medallion Financial will post 1.13 earnings per share for the current year.

Medallion Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were issued a $0.14 dividend. This is a boost from Medallion Financial’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, May 11th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.7%. Medallion Financial’s payout ratio is presently 37.84%.

Medallion Financial Company Profile

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.