Manhattan Bridge Capital (LOAN) Expected to Announce Earnings on Friday

Manhattan Bridge Capital (NASDAQ:LOAN) is projected to announce its results before the market opens on Friday, March 6th. Analysts expect the company to announce earnings of $0.10 per share for the quarter.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $4.37 on Wednesday. The stock’s 50 day simple moving average is $4.55 and its 200-day simple moving average is $4.91. The company has a market cap of $49.99 million, a PE ratio of 9.50 and a beta of 0.25. Manhattan Bridge Capital has a 1-year low of $4.29 and a 1-year high of $6.05.

Manhattan Bridge Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 10.1%. The ex-dividend date of this dividend is Wednesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 100.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Manhattan Bridge Capital in a report on Monday, December 29th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Manhattan Bridge Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider’s stock worth $2,116,000 after purchasing an additional 9,330 shares during the period. Mercer Global Advisors Inc. ADV increased its holdings in shares of Manhattan Bridge Capital by 28.8% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider’s stock worth $1,996,000 after buying an additional 81,220 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Manhattan Bridge Capital by 4.5% during the 4th quarter. Renaissance Technologies LLC now owns 181,728 shares of the credit services provider’s stock valued at $845,000 after buying an additional 7,900 shares during the period. Geode Capital Management LLC raised its position in shares of Manhattan Bridge Capital by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider’s stock valued at $521,000 after buying an additional 3,046 shares during the period. Finally, Gen Wealth Partners Inc acquired a new position in Manhattan Bridge Capital in the fourth quarter valued at approximately $161,000. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.