Medallion Financial (NASDAQ:MFIN) Posts Earnings Results, Beats Expectations By $0.09 EPS

by · The Markets Daily

Medallion Financial (NASDAQ:MFIN – Get Free Report) announced its earnings results on Wednesday. The credit services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $55.92 million during the quarter, compared to the consensus estimate of $56.20 million.

Medallion Financial Stock Performance

MFIN traded down $0.23 during midday trading on Thursday, hitting $10.39. 58,214 shares of the company traded hands, compared to its average volume of 40,554. The company’s 50-day moving average is $10.32 and its 200 day moving average is $10.20. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $241.88 million, a PE ratio of 6.08 and a beta of 0.77. Medallion Financial has a 52 week low of $7.71 and a 52 week high of $11.00.

Medallion Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th will be given a $0.12 dividend. The ex-dividend date of this dividend is Thursday, March 19th. This represents a $0.48 dividend on an annualized basis and a yield of 4.6%. Medallion Financial’s payout ratio is 28.07%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MFIN. Wall Street Zen cut Medallion Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Zacks Research cut shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Medallion Financial currently has an average rating of “Hold” and an average price target of $12.00.

View Our Latest Stock Report on MFIN

Institutional Investors Weigh In On Medallion Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in MFIN. BNP Paribas Financial Markets grew its position in Medallion Financial by 45.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock worth $37,000 after purchasing an additional 1,150 shares during the period. Kestra Advisory Services LLC purchased a new stake in Medallion Financial during the fourth quarter valued at $42,000. Tower Research Capital LLC TRC lifted its holdings in Medallion Financial by 533.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock valued at $60,000 after acquiring an additional 5,288 shares during the period. Osaic Holdings Inc. bought a new position in Medallion Financial in the second quarter valued at about $76,000. Finally, Vise Technologies Inc. purchased a new position in Medallion Financial in the fourth quarter worth about $106,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

(Get Free Report)

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.

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