Medallion Financial (NASDAQ:MFIN) Downgraded to Hold Rating by StockNews.com

StockNews.com lowered shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a hold rating in a research report released on Friday.

Medallion Financial Stock Up 3.3 %

MFIN stock opened at $9.49 on Friday. The business’s 50-day simple moving average is $9.61 and its 200 day simple moving average is $8.57. 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 cap of $218.92 million, a PE ratio of 5.62 and a beta of 2.09. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.50.

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, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. During the same quarter last year, the firm earned $0.48 EPS. On average, research analysts anticipate that Medallion Financial will post 1.48 earnings per share for the current 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 dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.64%. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend was Friday, November 15th. Medallion Financial’s dividend payout ratio (DPR) is presently 26.04%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp raised its stake in Medallion Financial by 0.7% during the third quarter. State Street Corp now owns 204,558 shares of the credit services provider’s stock worth $1,665,000 after acquiring an additional 1,333 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Medallion Financial by 52.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock worth $39,000 after purchasing an additional 1,656 shares in the last quarter. Soltis Investment Advisors LLC lifted its holdings in Medallion Financial by 7.4% during the 3rd quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider’s stock valued at $475,000 after purchasing an additional 4,002 shares during the last quarter. Ritholtz Wealth Management boosted its position in Medallion Financial by 13.2% in the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after buying an additional 4,862 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Medallion Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock worth $3,394,000 after buying an additional 9,849 shares during the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

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.