Northland Capmk Issues Optimistic Forecast for MFIN Earnings

Medallion Financial Corp. (NASDAQ:MFIN) – Stock analysts at Northland Capmk raised their FY2024 earnings per share (EPS) estimates for Medallion Financial in a report released on Wednesday, October 30th. Northland Capmk analyst M. Grondahl now expects that the credit services provider will earn $1.42 per share for the year, up from their previous estimate of $1.41. The consensus estimate for Medallion Financial’s current full-year earnings is $1.48 per share.

Separately, StockNews.com raised Medallion Financial from a “hold” rating to a “buy” rating in a research note on Monday, October 28th.

Medallion Financial Trading Up 2.5 %

Shares of NASDAQ MFIN opened at $9.51 on Monday. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.14. The stock has a market cap of $220.35 million, a price-to-earnings ratio of 5.63 and a beta of 2.12. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The company’s fifty day moving average is $8.33 and its 200-day moving average is $8.10.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.59%. During the same period last year, the company posted $0.48 EPS.

Medallion Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.63%. This is a boost from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, November 15th. Medallion Financial’s dividend payout ratio is presently 23.67%.

Institutional Investors Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. bought a new position in Medallion Financial during the 2nd quarter worth about $462,000. Bank of New York Mellon Corp boosted its position in shares of Medallion Financial by 60.1% during the second quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after buying an additional 52,857 shares during the period. American Century Companies Inc. grew its holdings in shares of Medallion Financial by 30.6% during the second 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 grew its holdings in shares of Medallion Financial by 2,306.5% during the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares in the last quarter. Finally, Fortis Capital Advisors LLC bought a new stake in Medallion Financial in the 1st quarter valued at approximately $169,000. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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.