Frazier Financial Advisors LLC Buys Shares of 20,500 Manhattan Bridge Capital, Inc $LOAN

Frazier Financial Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,500 shares of the credit services provider’s stock, valued at approximately $112,000.

Several other institutional investors also recently modified their holdings of LOAN. Melia Wealth LLC increased its holdings in Manhattan Bridge Capital by 2.8% in the first quarter. Melia Wealth LLC now owns 360,918 shares of the credit services provider’s stock valued at $2,133,000 after purchasing an additional 9,778 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Manhattan Bridge Capital by 57.2% in the 2nd quarter. Atria Wealth Solutions Inc. now owns 39,871 shares of the credit services provider’s stock valued at $218,000 after buying an additional 14,513 shares during the last quarter. Hardy Reed LLC increased its stake in shares of Manhattan Bridge Capital by 4.3% in the first quarter. Hardy Reed LLC now owns 386,259 shares of the credit services provider’s stock valued at $2,283,000 after buying an additional 15,760 shares during the period. Kingsview Wealth Management LLC bought a new position in shares of Manhattan Bridge Capital during the first quarter worth about $121,000. Finally, OLIO Financial Planning raised its holdings in Manhattan Bridge Capital by 196.3% during the 2nd quarter. OLIO Financial Planning now owns 72,798 shares of the credit services provider’s stock worth $398,000 after purchasing an additional 48,230 shares during the last quarter. Institutional investors own 21.84% of the company’s stock.

Manhattan Bridge Capital Stock Performance

Shares of LOAN stock opened at $5.28 on Tuesday. Manhattan Bridge Capital, Inc has a 52-week low of $4.74 and a 52-week high of $6.05. The company has a 50-day simple moving average of $5.41 and a two-hundred day simple moving average of $5.33. The company has a market capitalization of $60.40 million, a price-to-earnings ratio of 11.23 and a beta of 0.37.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its quarterly earnings data on Tuesday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 59.04%.The business had revenue of $2.36 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Wednesday, October 8th will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date of this dividend is Wednesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 97.87%.

Analyst Ratings Changes

Separately, Weiss Ratings raised Manhattan Bridge Capital from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Manhattan Bridge Capital 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.