Medallion Financial (NASDAQ:MFIN) Share Price Passes Above Two Hundred Day Moving Average – What’s Next?

Medallion Financial Corp. (NASDAQ:MFIN)’s stock price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $9.75 and traded as high as $10.33. Medallion Financial shares last traded at $10.21, with a volume of 112,850 shares traded.

Wall Street Analyst Weigh In

MFIN has been the topic of a number of recent research reports. Zacks Research downgraded Medallion Financial from a “hold” rating to a “strong sell” rating in a research note on Tuesday, May 19th. Piper Sandler initiated coverage on Medallion Financial in a research note on Friday, June 12th. They set a “neutral” rating and a $10.50 price target for the company. Finally, Weiss Ratings lowered Medallion Financial from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $11.25.

Medallion Financial Trading Down 0.9%

The company’s 50 day moving average price is $9.61 and its 200 day moving average price is $9.75. The company has a market cap of $235.95 million, a price-to-earnings ratio of 6.90 and a beta of 0.78. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.20 and a current ratio of 1.21.

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

Medallion Financial Increases Dividend

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

Institutional Trading of Medallion Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets boosted its stake 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 acquiring an additional 1,150 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Medallion Financial in the 4th quarter valued at approximately $42,000. Daytona Street Capital LLC bought a new position in shares of Medallion Financial in the 4th quarter valued at approximately $51,000. Tower Research Capital LLC TRC lifted its holdings in Medallion Financial by 533.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock worth $60,000 after purchasing an additional 5,288 shares during the last quarter. Finally, Osaic Holdings Inc. acquired a new stake in Medallion Financial in the 2nd quarter worth approximately $76,000. Institutional investors and hedge funds 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.