Stifel Financial Corp Boosts Stock Position in Medallion Financial Corp. (NASDAQ:MFIN)

Stifel Financial Corp grew its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 4.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,949 shares of the credit services provider’s stock after purchasing an additional 10,974 shares during the period. Stifel Financial Corp owned about 1.18% of Medallion Financial worth $2,222,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MFIN. Bank of New York Mellon Corp grew its holdings 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. Ridgewood Investments LLC bought a new position in Medallion Financial in the 2nd quarter worth about $38,000. Panagora Asset Management Inc. purchased a new position in shares of Medallion Financial during the second quarter worth approximately $462,000. Ritholtz Wealth Management raised its stake in shares of Medallion Financial by 13.2% during the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 4,862 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Medallion Financial by 2,306.5% in the second 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 period. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Stock Performance

MFIN stock opened at $9.61 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18. Medallion Financial Corp. has a 1-year low of $6.48 and a 1-year high of $10.50. The business has a 50-day moving average price of $9.48 and a 200 day moving average price of $8.48. The company has a market capitalization of $221.68 million, a P/E ratio of 5.69 and a beta of 2.11.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results 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. 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 analysts’ expectations of $52.88 million. During the same quarter in the prior year, the company earned $0.48 EPS. As a group, equities research analysts forecast that Medallion Financial Corp. will post 1.48 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was 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 yield of 4.58%. Medallion Financial’s payout ratio is currently 26.04%.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised Medallion Financial from a “hold” rating to a “buy” rating in a research report on Saturday, November 16th.

Medallion Financial 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.