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

Medallion Financial (NASDAQ:MFIN) posted its quarterly earnings results on Wednesday. The credit services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09, Zacks reports. The company had revenue of $55.92 million for the quarter, compared to the consensus estimate of $56.20 million. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.

Medallion Financial Stock Down 1.1%

Shares of MFIN traded down $0.12 during midday trading on Thursday, hitting $10.51. The stock had a trading volume of 57,676 shares, compared to its average volume of 40,404. The firm has a market cap of $244.56 million, a price-to-earnings ratio of 6.14 and a beta of 0.77. The company has a 50 day simple moving average of $10.32 and a two-hundred day simple moving average of $10.20. Medallion Financial has a twelve month low of $7.71 and a twelve month high of $11.00. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.18.

Medallion Financial Announces Dividend

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

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Medallion Financial by 4.4% during the 3rd quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock worth $266,000 after acquiring an additional 1,112 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Medallion Financial by 45.0% in the third 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 in the last quarter. Barclays PLC boosted its holdings in Medallion Financial by 5.1% during the fourth quarter. Barclays PLC now owns 37,672 shares of the credit services provider’s stock worth $388,000 after purchasing an additional 1,834 shares during the last quarter. Rhumbline Advisers boosted its holdings in Medallion Financial by 6.7% during the second quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider’s stock worth $283,000 after purchasing an additional 1,871 shares during the last quarter. Finally, Empowered Funds LLC grew its position in Medallion Financial by 9.7% in the first quarter. Empowered Funds LLC now owns 27,842 shares of the credit services provider’s stock valued at $243,000 after purchasing an additional 2,461 shares in the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

Analysts Set New Price Targets

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

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.