Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above 200 Day Moving Average – What’s Next?

Medallion Financial Corp. (NASDAQ:MFIN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.70 and traded as high as $10.33. Medallion Financial shares last traded at $10.23, with a volume of 42,273 shares trading hands.

Analyst Ratings Changes

Several research firms have commented on MFIN. Weiss Ratings raised shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Zacks Research raised shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Raymond James Financial initiated coverage on Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. Finally, Piper Sandler began coverage on Medallion Financial in a report on Friday, June 12th. They set a “neutral” rating and a $10.50 price objective for the company. One equities research analyst has rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Medallion Financial presently has a consensus rating of “Hold” and an average target price of $11.25.

Medallion Financial Stock Performance

The stock has a market capitalization of $236.42 million, a P/E ratio of 6.91 and a beta of 0.78. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. The company has a 50-day moving average price of $9.76 and a two-hundred day moving average price of $9.70.

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

Medallion Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Monday, May 11th were paid a $0.14 dividend. The ex-dividend date was Monday, May 11th. This represents a $0.56 annualized dividend and a yield of 5.5%. This is a boost from Medallion Financial’s previous quarterly dividend of $0.12. Medallion Financial’s dividend payout ratio is currently 37.84%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew 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 valued at $37,000 after purchasing an additional 1,150 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Medallion Financial in the fourth quarter worth $42,000. Daytona Street Capital LLC purchased a new stake in shares of Medallion Financial in the fourth quarter worth $51,000. Tower Research Capital LLC TRC boosted its stake in Medallion Financial by 533.1% during the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock valued at $60,000 after buying an additional 5,288 shares during the period. Finally, Osaic Holdings Inc. bought a new stake in Medallion Financial during the second quarter valued at $76,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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.