Medallion Financial (NASDAQ:MFIN) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

by · The Markets Daily

Shares of Medallion Financial Corp. (NASDAQ:MFIN – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $8.47 and traded as high as $9.89. Medallion Financial shares last traded at $9.61, with a volume of 32,474 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com raised Medallion Financial from a “hold” rating to a “buy” rating in a report on Saturday, November 16th.

Read Our Latest Stock Report on Medallion Financial

Medallion Financial Stock Up 1.8 %

The company has a market capitalization of $225.61 million, a PE ratio of 5.79 and a beta of 2.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The company’s 50-day moving average is $9.51 and its 200 day moving average is $8.49.

Medallion Financial (NASDAQ:MFIN – Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The firm had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. As a group, analysts anticipate that Medallion Financial Corp. will post 1.48 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a dividend of $0.11 per share. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.50%. The ex-dividend date was Friday, November 15th. Medallion Financial’s dividend payout ratio is presently 26.04%.

Institutional Investors Weigh In On Medallion Financial

Large investors have recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in shares of Medallion Financial during the 2nd quarter valued at about $38,000. BNP Paribas Financial Markets boosted its holdings in Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 1,656 shares during the last quarter. Jane Street Group LLC bought a new stake in Medallion Financial in the 3rd quarter worth approximately $117,000. PDT Partners LLC purchased a new stake in Medallion Financial during the 3rd quarter valued at $165,000. Finally, Rhumbline Advisers lifted its holdings in shares of Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after buying an additional 23,180 shares during the period. 40.56% of the stock is currently owned by institutional investors.

Medallion Financial Company Profile

(Get Free Report)

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.

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