Medallion Financial (NASDAQ:MFIN – Get Free Report) was upgraded by Piper Sandler to a “hold” rating in a report issued on Friday,Zacks.com reports.
MFIN has been the subject of a number of other research reports. Zacks Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Weiss Ratings lowered Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $11.25.
Get Our Latest Stock Report on MFIN
Medallion Financial Price Performance
Medallion Financial (NASDAQ:MFIN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. The firm had revenue of $79.07 million during the quarter, compared to analysts’ expectations of $56.15 million. On average, research analysts forecast that Medallion Financial will post 1.12 earnings per share for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in Medallion Financial by 4.4% during the third 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 period. BNP Paribas Financial Markets grew its holdings in Medallion Financial by 45.0% during the third quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock worth $37,000 after acquiring an additional 1,150 shares during the period. Barclays PLC grew 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 acquiring an additional 1,834 shares during the period. Rhumbline Advisers grew 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 acquiring an additional 1,871 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Medallion Financial by 9.3% during the first quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 2,052 shares during the period. Institutional investors and hedge funds own 40.56% of the company’s stock.
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.
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