Rhumbline Advisers Purchases 3,503 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

Rhumbline Advisers raised its position in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 13.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,192 shares of the credit services provider’s stock after purchasing an additional 3,503 shares during the period. Rhumbline Advisers owned approximately 0.13% of Medallion Financial worth $274,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC increased its position in shares of Medallion Financial by 56.1% during the 4th quarter. Empowered Funds LLC now owns 25,381 shares of the credit services provider’s stock valued at $238,000 after purchasing an additional 9,121 shares during the last quarter. Ritholtz Wealth Management boosted its stake in Medallion Financial by 56.3% in the fourth quarter. Ritholtz Wealth Management now owns 57,584 shares of the credit services provider’s stock worth $541,000 after buying an additional 20,747 shares in the last quarter. Barclays PLC grew its position in Medallion Financial by 297.6% during the third quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock valued at $213,000 after acquiring an additional 19,508 shares during the last quarter. Soltis Investment Advisors LLC raised its stake in shares of Medallion Financial by 7.4% during the third quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider’s stock worth $475,000 after acquiring an additional 4,002 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of 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 acquiring an additional 9,849 shares in the last quarter. Institutional investors own 40.56% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Medallion Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th.

Medallion Financial Stock Up 0.1 %

Shares of NASDAQ:MFIN opened at $8.75 on Monday. The stock has a market capitalization of $201.85 million, a P/E ratio of 5.18 and a beta of 2.10. The stock’s 50-day moving average price is $8.88 and its 200-day moving average price is $8.86. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial Corp. has a 12-month low of $6.48 and a 12-month high of $10.50.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Tuesday, March 4th. The credit services provider reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.10. The business had revenue of $53.10 million for the quarter, compared to analyst estimates of $53.66 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. On average, equities analysts anticipate that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.44 annualized dividend and a yield of 5.03%. Medallion Financial’s payout ratio is currently 28.95%.

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.