Medallion Financial Corp. (NASDAQ:MFIN) Receives $11.25 Consensus PT from Analysts

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have earned an average recommendation of “Hold” from the five analysts that are currently covering the company, MarketBeat reports. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $11.25.

MFIN has been the subject of a number of research reports. Zacks Research upgraded shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Weiss Ratings upgraded shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Raymond James Financial assumed coverage on shares of Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Finally, Piper Sandler started coverage on Medallion Financial in a research note on Friday, June 12th. They issued a “neutral” rating and a $10.50 target price for the company.

Medallion Financial Trading Up 0.9%

NASDAQ MFIN opened at $10.06 on Thursday. The stock has a market capitalization of $232.49 million, a P/E ratio of 6.80 and a beta of 0.78. The business has a 50 day simple moving average of $9.75 and a 200 day simple moving average of $9.71. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.21 and a quick ratio of 1.20. Medallion Financial has a one year low of $7.85 and a one year high of $11.00.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings results on Wednesday, April 29th. The credit services provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The business had revenue of $79.07 million for the quarter, compared to the consensus estimate of $56.15 million. Medallion Financial had a return on equity of 7.73% and a net margin of 10.35%. Research analysts expect that Medallion Financial will post 1.13 earnings per share for the current year.

Medallion Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were issued a $0.14 dividend. The ex-dividend date was Monday, May 11th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.12. This represents a $0.56 annualized dividend and a yield of 5.6%. Medallion Financial’s dividend payout ratio is currently 37.84%.

Institutional Investors Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE boosted its holdings in Medallion Financial by 4.4% during the third quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock worth $266,000 after purchasing an additional 1,112 shares during the last quarter. BNP Paribas Financial Markets lifted its position in shares of Medallion Financial by 45.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock worth $37,000 after buying an additional 1,150 shares in the last quarter. Barclays PLC lifted its position in shares of Medallion Financial by 5.1% during the 4th quarter. Barclays PLC now owns 37,672 shares of the credit services provider’s stock worth $388,000 after buying an additional 1,834 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Medallion Financial by 6.7% in the 2nd quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider’s stock worth $283,000 after buying an additional 1,871 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Medallion Financial by 9.3% in the first quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock valued at $209,000 after acquiring an additional 2,052 shares in the last quarter. Institutional investors own 40.56% of the company’s stock.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.