Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Medallion Financial Corp. (NASDAQ:MFIN) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.19 and traded as high as $9.75. Medallion Financial shares last traded at $9.53, with a volume of 35,245 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a report on Saturday.

Medallion Financial Price Performance

The stock’s fifty day moving average price is $8.63 and its 200-day moving average price is $8.19. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a market cap of $219.86 million, a PE ratio of 5.64 and a beta of 2.12.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. During the same period last year, the firm posted $0.48 EPS. As a group, equities analysts forecast that Medallion Financial Corp. will post 1.48 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Friday, November 15th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.62%. Medallion Financial’s payout ratio is 23.67%.

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Medallion Financial by 297.6% during the third quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock worth $213,000 after buying an additional 19,508 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Medallion Financial in the third quarter worth approximately $117,000. State Street Corp lifted its position 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 valued at $1,665,000 after buying an additional 1,333 shares in the last quarter. Stifel Financial Corp lifted its position in Medallion Financial by 4.2% during the third quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after buying an additional 10,974 shares in the last quarter. Finally, PDT Partners LLC acquired a new position in Medallion Financial during the third quarter valued at approximately $165,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

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.