StockNews.com Lowers Medallion Financial (NASDAQ:MFIN) to Hold

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

Medallion Financial Trading Down 0.5 %

Medallion Financial stock opened at $7.90 on Friday. Medallion Financial has a 52-week low of $6.28 and a 52-week high of $10.14. 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 firm has a market capitalization of $184.68 million, a price-to-earnings ratio of 3.73 and a beta of 2.17. The firm has a 50-day moving average price of $7.99 and a two-hundred day moving average price of $8.20.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). The business had revenue of $71.80 million for the quarter, compared to analyst estimates of $50.39 million. Medallion Financial had a return on equity of 10.44% and a net margin of 14.97%. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Sell-side analysts expect that Medallion Financial will post 1.48 earnings per share for the current year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Thursday, August 15th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.06%. The ex-dividend date is Thursday, August 15th. Medallion Financial’s payout ratio is currently 18.87%.

Hedge Funds Weigh In On Medallion Financial

Several large investors have recently bought and sold shares of the stock. Panagora Asset Management Inc. bought a new position in shares of Medallion Financial in the second quarter valued at approximately $462,000. Bank of New York Mellon Corp increased its position in shares of Medallion Financial by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock valued at $1,081,000 after purchasing an additional 52,857 shares during the period. American Century Companies Inc. raised its stake in shares of Medallion Financial by 30.6% in the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after buying an additional 43,917 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Medallion Financial by 2,306.5% in the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after buying an additional 23,180 shares during the period. Finally, Denali Advisors LLC boosted its stake in Medallion Financial by 100.4% during the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after buying an additional 22,400 shares in the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

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.