Marlin Business Services Corp. (MRLN) Rating Lowered to Hold at ValuEngine
Marlin Business Services Corp. (NASDAQ:MRLN) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
A number of other equities research analysts have also issued reports on MRLN. JMP Securities upped their target price on Marlin Business Services Corp. from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Zacks Investment Research lowered Marlin Business Services Corp. from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th.
Shares of Marlin Business Services Corp. (NASDAQ:MRLN) traded down 0.78% during trading on Tuesday, hitting $25.30. The company’s stock had a trading volume of 19,195 shares. Marlin Business Services Corp. has a one year low of $14.00 and a one year high of $26.70. The company has a 50-day moving average price of $25.05 and a 200-day moving average price of $22.61. The stock has a market cap of $310.28 million, a PE ratio of 20.93 and a beta of 1.29.
Marlin Business Services Corp. (NASDAQ:MRLN) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. Marlin Business Services Corp. had a net margin of 17.28% and a return on equity of 11.10%. The company had revenue of $21.72 million during the quarter, compared to analysts’ expectations of $22.60 million. Equities analysts predict that Marlin Business Services Corp. will post $1.52 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Investors of record on Monday, May 8th will be paid a $0.14 dividend. The ex-dividend date is Thursday, May 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.20%. This is a positive change from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. Marlin Business Services Corp.’s dividend payout ratio is presently 40.58%.
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Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Marlin Business Services Corp. by 0.4% in the third quarter. JPMorgan Chase & Co. now owns 62,467 shares of the financial services provider’s stock worth $1,211,000 after buying an additional 225 shares during the last quarter. Prudential Financial Inc. raised its stake in Marlin Business Services Corp. by 18.2% in the third quarter. Prudential Financial Inc. now owns 42,621 shares of the financial services provider’s stock worth $826,000 after buying an additional 6,570 shares during the last quarter. Tieton Capital Management LLC bought a new stake in Marlin Business Services Corp. during the third quarter worth about $4,019,000. Russell Investments Group Ltd. bought a new stake in Marlin Business Services Corp. during the fourth quarter worth about $881,000. Finally, State Street Corp raised its stake in Marlin Business Services Corp. by 9.9% in the fourth quarter. State Street Corp now owns 158,713 shares of the financial services provider’s stock worth $3,315,000 after buying an additional 14,339 shares during the last quarter. 75.82% of the stock is currently owned by hedge funds and other institutional investors.
About Marlin Business Services Corp.
Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.
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