Medallion Financial (NASDAQ:MFIN) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Medallion Financial (NASDAQ:MFIN) announced its earnings results on Wednesday. The credit services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.41 by $0.09, Zacks reports. The business had revenue of $55.92 million for the quarter, compared to analysts’ expectations of $56.20 million. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.

Medallion Financial Price Performance

Shares of MFIN stock traded down $0.07 during trading hours on Thursday, hitting $10.55. 41,568 shares of the company’s stock were exchanged, compared to its average volume of 39,900. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $245.60 million, a PE ratio of 6.17 and a beta of 0.77. The business’s 50 day simple moving average is $10.32 and its 200-day simple moving average is $10.20. Medallion Financial has a 12-month low of $7.71 and a 12-month high of $11.00.

Medallion Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 19th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, March 19th. Medallion Financial’s dividend payout ratio (DPR) is currently 28.07%.

Institutional Investors Weigh In On Medallion Financial

Large investors have recently modified their holdings of the stock. Empowered Funds LLC grew its holdings in Medallion Financial by 11.7% in the fourth quarter. Empowered Funds LLC now owns 51,180 shares of the credit services provider’s stock worth $527,000 after purchasing an additional 5,374 shares during the period. Uniplan Investment Counsel Inc. increased its position in Medallion Financial by 34.5% during the fourth quarter. Uniplan Investment Counsel Inc. now owns 340,123 shares of the credit services provider’s stock valued at $3,500,000 after acquiring an additional 87,321 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Medallion Financial by 3.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 162,283 shares of the credit services provider’s stock worth $1,670,000 after purchasing an additional 5,374 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Medallion Financial by 53.5% during the 4th quarter. Panagora Asset Management Inc. now owns 37,734 shares of the credit services provider’s stock worth $388,000 after acquiring an additional 13,154 shares during the period. Finally, Mariner LLC purchased a new stake in shares of Medallion Financial during the fourth quarter worth about $739,000. Institutional investors own 40.56% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on MFIN. Wall Street Zen downgraded Medallion Financial from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Medallion Financial in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

About Medallion Financial

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.