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

StockNews.com cut shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a hold rating in a research report report published on Tuesday.

Medallion Financial Stock Performance

MFIN opened at $9.58 on Tuesday. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The business’s 50 day moving average is $9.53 and its 200-day moving average is $8.50. The stock has a market cap of $220.99 million, a PE ratio of 5.67 and a beta of 2.11. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.50.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. The firm had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same quarter last year, the company earned $0.48 EPS. On average, analysts predict that Medallion Financial will post 1.48 earnings per share for the current year.

Medallion Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.59%. This is a positive change 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 is 26.04%.

Institutional Investors Weigh In On Medallion Financial

Institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets grew its stake in Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 1,656 shares in the last quarter. Ridgewood Investments LLC acquired a new stake in Medallion Financial in the second quarter valued at approximately $38,000. Jane Street Group LLC bought a new stake in Medallion Financial in the third quarter worth approximately $117,000. PDT Partners LLC bought a new position in shares of Medallion Financial during the 3rd quarter valued at $165,000. Finally, Rhumbline Advisers lifted its stake in shares of Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after purchasing an additional 23,180 shares during the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

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.