State Street Corp Purchases 1,333 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

State Street Corp lifted its position in Medallion Financial Corp. (NASDAQ:MFIN) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 204,558 shares of the credit services provider’s stock after purchasing an additional 1,333 shares during the quarter. State Street Corp’s holdings in Medallion Financial were worth $1,665,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Segall Bryant & Hamill LLC purchased a new position in Medallion Financial during the third quarter worth about $1,025,000. Panagora Asset Management Inc. bought a new stake in shares of Medallion Financial during the 2nd quarter valued at about $462,000. Bank of New York Mellon Corp increased its position in shares of Medallion Financial by 60.1% in 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 purchasing an additional 52,857 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Medallion Financial by 32.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after purchasing an additional 51,941 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in 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 valued at $1,439,000 after purchasing an additional 43,917 shares during the last quarter. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Trading Up 0.4 %

NASDAQ MFIN opened at $9.39 on Thursday. The stock’s 50-day simple moving average is $9.60 and its two-hundred day simple moving average is $8.56. Medallion Financial Corp. has a twelve month low of $6.48 and a twelve month high of $10.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $216.61 million, a price-to-earnings ratio of 5.56 and a beta of 2.11.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings data 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 company had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same period last year, the firm posted $0.48 EPS. Research analysts forecast that Medallion Financial Corp. will post 1.48 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.69%. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, November 15th. Medallion Financial’s payout ratio is presently 26.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Medallion Financial from a “buy” rating to a “hold” rating in a report on Tuesday, December 24th.

About Medallion Financial

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.