Manhattan Bridge Capital, Inc (NASDAQ:LOAN – Get Free Report) declared a quarterly dividend on Tuesday, July 28th. Stockholders of record on Thursday, October 8th will be paid a dividend of 0.11 per share by the credit services provider on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date of this dividend is Thursday, October 8th.
Manhattan Bridge Capital has increased its dividend payment by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 1 years. Manhattan Bridge Capital has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.
Manhattan Bridge Capital Stock Up 6.6%
Shares of LOAN stock traded up $0.26 during trading hours on Tuesday, hitting $4.17. 94,728 shares of the company were exchanged, compared to its average volume of 30,459. The firm has a fifty day moving average of $4.32 and a 200 day moving average of $4.40. Manhattan Bridge Capital has a 1 year low of $3.90 and a 1 year high of $5.80. The firm has a market cap of $47.66 million, a PE ratio of 9.93 and a beta of 0.14.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c)” rating to a “hold (c-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Manhattan Bridge Capital currently has a consensus rating of “Hold”.
Read Our Latest Stock Report on LOAN
About Manhattan Bridge Capital
Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.
Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.
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