Medallion Financial (NASDAQ:MFIN) Upgraded at StockNews.com

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a report published on Friday morning.

Medallion Financial Stock Up 3.4 %

Shares of MFIN opened at $8.18 on Friday. Medallion Financial has a 52 week low of $6.28 and a 52 week high of $10.49. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $191.25 million, a price-to-earnings ratio of 3.86 and a beta of 2.16. The stock’s 50-day moving average price is $8.00 and its 200-day moving average price is $8.38.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, April 30th. The credit services provider reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. The company had revenue of $53.32 million during the quarter, compared to analysts’ expectations of $50.36 million. Medallion Financial had a return on equity of 12.32% and a net margin of 17.96%. On average, sell-side analysts predict that Medallion Financial will post 1.53 EPS for the current year.

Medallion Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th were given a dividend of $0.10 per share. The ex-dividend date was Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.89%. Medallion Financial’s dividend payout ratio is currently 18.87%.

Institutional Trading of Medallion Financial

Several hedge funds have recently modified their holdings of the stock. AJOVista LLC purchased a new position in shares of Medallion Financial during the fourth quarter worth about $90,000. Jump Financial LLC purchased a new stake in Medallion Financial in the 4th quarter valued at approximately $161,000. Fortis Capital Advisors LLC purchased a new stake in Medallion Financial in the 1st quarter valued at approximately $169,000. Denali Advisors LLC lifted its stake in Medallion Financial by 85.8% in the 4th quarter. Denali Advisors LLC now owns 22,300 shares of the credit services provider’s stock valued at $220,000 after buying an additional 10,300 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its stake in Medallion Financial by 12.4% in the 4th quarter. Ritholtz Wealth Management now owns 37,663 shares of the credit services provider’s stock valued at $371,000 after buying an additional 4,144 shares in the last quarter. 40.56% of the stock is currently owned by institutional investors and hedge funds.

Medallion Financial Company Profile

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.