State Street Corp Purchases 1,333 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

State Street Corp increased its holdings in Medallion Financial Corp. (NASDAQ:MFIN) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,558 shares of the credit services provider’s stock after acquiring an additional 1,333 shares during the period. State Street Corp owned about 0.89% of Medallion Financial worth $1,665,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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 valued at $39,000 after purchasing an additional 1,656 shares during the last quarter. PDT Partners LLC purchased a new position in Medallion Financial in the third quarter valued at about $165,000. Rhumbline Advisers increased its stake in shares of Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after purchasing an additional 23,180 shares during the last quarter. Ritholtz Wealth Management raised its holdings in shares of Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after purchasing an additional 4,862 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in Medallion Financial in the second quarter valued at approximately $462,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Medallion Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, December 24th.

Medallion Financial Price Performance

NASDAQ MFIN opened at $9.39 on Thursday. The company has a market cap of $216.61 million, a PE ratio of 5.56 and a beta of 2.11. 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 firm’s 50-day simple moving average is $9.60 and its two-hundred day simple moving average is $8.56. Medallion Financial Corp. has a 52 week low of $6.48 and a 52 week high of $10.50.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same period in the previous year, the business earned $0.48 EPS. Research analysts predict that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 4.69%. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. Medallion Financial’s dividend payout ratio (DPR) is currently 26.04%.

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.