Medallion Financial Corp. (MFIN) to Issue Quarterly Dividend of $0.14 on November 19th

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Thursday, October 29th. Stockholders of record on Monday, November 9th will be given a dividend of $0.14 per share by the credit services provider on Thursday, November 19th. This represents a $0.56 annualized dividend and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, November 9th.

Medallion Financial has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 40.6%.

Medallion Financial Stock Performance

NASDAQ MFIN opened at $10.10 on Friday. The company has a market capitalization of $231.90 million, a price-to-earnings ratio of 9.10 and a beta of 0.79. The stock has a fifty day simple moving average of $11.73 and a 200 day simple moving average of $10.28. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Medallion Financial has a twelve month low of $7.85 and a twelve month high of $12.26.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Thursday, October 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). The firm had revenue of $88.89 million during the quarter, compared to analyst estimates of $63.54 million. Medallion Financial had a return on equity of 5.32% and a net margin of 7.53%. Sell-side analysts expect that Medallion Financial will post 1.15 EPS for the current year.

Wall Street Analyst Weigh In

MFIN has been the subject of several research analyst reports. Raymond James Financial began coverage on shares of Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. Zacks Research cut shares of Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a report on Monday, October 5th. Weiss Ratings raised shares of Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 14th. Piper Sandler reaffirmed a “neutral” rating and set a $12.00 price target (up from $10.50) on shares of Medallion Financial in a research note on Friday, October 2nd. Finally, LADENBURG THALM/SH SH lowered Medallion Financial from a “buy” rating to a “neutral” rating in a research report on Friday. Five investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Medallion Financial presently has a consensus rating of “Reduce” and an average price target of $12.62.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.