Manhattan Bridge Capital Inc. (LOAN) to Issue Dividend Increase – $0.12 Per Share

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) declared a quarterly dividend on Wednesday, February 7th, Wall Street Journal reports. Shareholders of record on Tuesday, April 10th will be paid a dividend of 0.12 per share by the credit services provider on Monday, April 16th. This represents a $0.48 annualized dividend and a dividend yield of 7.98%. The ex-dividend date is Monday, April 9th. This is a boost from Manhattan Bridge Capital’s previous quarterly dividend of $0.11.

Shares of Manhattan Bridge Capital (NASDAQ LOAN) traded up $0.13 during trading hours on Wednesday, hitting $6.02. The company’s stock had a trading volume of 20,457 shares, compared to its average volume of 19,929. Manhattan Bridge Capital has a fifty-two week low of $4.65 and a fifty-two week high of $7.00. The stock has a market capitalization of $48.64, a price-to-earnings ratio of 14.68 and a beta of 0.67.

Separately, Maxim Group started coverage on Manhattan Bridge Capital in a research report on Thursday, December 21st. They set a “buy” rating and a $7.50 target price for the company.

A hedge fund recently raised its stake in Manhattan Bridge Capital stock. Vanguard Group Inc. raised its holdings in shares of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period. Institutional investors own 11.97% of the company’s stock.

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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.

Dividend History for Manhattan Bridge Capital (NASDAQ:LOAN)

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