Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Sunday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

Shares of Manhattan Bridge Capital stock opened at $5.11 on Friday. Manhattan Bridge Capital has a one year low of $4.74 and a one year high of $6.05. The company has a market cap of $58.45 million, a price-to-earnings ratio of 10.43 and a beta of 0.33. The business’s 50 day moving average price is $5.34 and its 200 day moving average price is $5.47.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Thursday, April 24th. The credit services provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The company had revenue of $2.27 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Tuesday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 annualized dividend and a yield of 9.00%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 97.87%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOAN. Atria Wealth Solutions Inc. increased its stake in Manhattan Bridge Capital by 13.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after purchasing an additional 3,324 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at $1,684,000. Fortress Financial Solutions LLC acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at $685,000. OLIO Financial Planning acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at $117,000. Finally, Hardy Reed LLC grew its holdings in Manhattan Bridge Capital by 7.8% during the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock valued at $2,075,000 after buying an additional 26,733 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.