Manhattan Bridge Capital, Inc (LOAN) Declares Quarterly Dividend of $0.11
Manhattan Bridge Capital, Inc (NASDAQ:LOAN) announced a quarterly dividend on Monday, October 23rd, Wall Street Journal reports. Investors of record on Friday, December 29th will be given a dividend of 0.11 per share by the credit services provider on Monday, January 15th. This represents a $0.44 annualized dividend and a yield of 7.46%. The ex-dividend date of this dividend is Thursday, December 28th. This is a positive change from Manhattan Bridge Capital’s previous quarterly dividend of $0.10.
Shares of Manhattan Bridge Capital (NASDAQ LOAN) traded up 0.85% on Monday, reaching $5.90. The company’s stock had a trading volume of 26,729 shares. The firm’s 50-day moving average price is $5.85 and its 200-day moving average price is $5.56. The stock has a market cap of $47.80 million, a P/E ratio of 15.49 and a beta of 0.80. Manhattan Bridge Capital has a 12 month low of $4.65 and a 12 month high of $7.65.
Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, October 19th. The credit services provider reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. Manhattan Bridge Capital had a return on equity of 14.48% and a net margin of 59.63%. The business had revenue of $1.59 million during the quarter. On average, analysts forecast that Manhattan Bridge Capital will post $0.42 earnings per share for the current fiscal year.
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A hedge fund recently raised its stake in Manhattan Bridge Capital stock. Vanguard Group Inc. lifted its position in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN) by 4.1% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,326 shares of the credit services provider’s stock after buying an additional 9,710 shares during the period. Vanguard Group Inc. owned about 3.04% of Manhattan Bridge Capital worth $1,466,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 11.40% of the company’s stock.
About Manhattan Bridge Capital
Manhattan Bridge Capital, Inc (MBC) is a real estate finance company that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Company offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area.
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