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 $9.70 and traded as high as $10.33. Medallion Financial shares last traded at $10.23, with a volume of 42,273 shares traded.
Analyst Upgrades and Downgrades
Several research analysts have commented on MFIN shares. Weiss Ratings upgraded shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Piper Sandler assumed coverage on Medallion Financial in a report on Friday, June 12th. They issued a “neutral” rating and a $10.50 target price on the stock. Raymond James Financial initiated coverage on Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. Finally, Zacks Research raised Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. One analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Medallion Financial has an average rating of “Hold” and a consensus target price of $11.25.
View Our Latest Research Report on MFIN
Medallion Financial Stock Down 2.7%
Medallion Financial (NASDAQ:MFIN – Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The credit services provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. The company had revenue of $79.07 million during the quarter, compared to the consensus estimate of $56.15 million. As a group, equities research analysts predict that Medallion Financial Corp. will post 1.13 EPS for the current year.
Medallion Financial Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Monday, May 11th were paid a $0.14 dividend. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a dividend yield of 5.6%. The ex-dividend date of this dividend was Monday, May 11th. Medallion Financial’s payout ratio is presently 37.84%.
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. Sei Investments Co. increased its stake in Medallion Financial by 124.0% in the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock valued at $4,203,000 after purchasing an additional 271,789 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Medallion Financial by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 406,754 shares of the credit services provider’s stock worth $4,186,000 after purchasing an additional 6,458 shares in the last quarter. Uniplan Investment Counsel Inc. grew its stake in shares of Medallion Financial by 34.5% in the 4th quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after buying an additional 87,321 shares during the period. State Street Corp grew its stake in shares of Medallion Financial by 1.0% in the 4th quarter. State Street Corp now owns 243,509 shares of the credit services provider’s stock valued at $2,506,000 after buying an additional 2,462 shares during the period. Finally, De Lisle Partners LLP increased its holdings in shares of Medallion Financial by 40.4% during the fourth quarter. De Lisle Partners LLP now owns 180,079 shares of the credit services provider’s stock valued at $1,851,000 after acquiring an additional 51,822 shares in the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.
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.
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