Northland Capmk Research Analysts Lift Earnings Estimates for Medallion Financial Corp. (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Research analysts at Northland Capmk raised their Q2 2024 earnings estimates for shares of Medallion Financial in a note issued to investors on Thursday, May 2nd. Northland Capmk analyst M. Grondahl now expects that the credit services provider will post earnings per share of $0.33 for the quarter, up from their prior estimate of $0.31. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Medallion Financial’s Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.45 EPS.

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.

Medallion Financial Stock Performance

NASDAQ:MFIN opened at $8.13 on Monday. The firm has a market capitalization of $190.08 million, a PE ratio of 3.83 and a beta of 2.08. The stock’s fifty day moving average is $7.87 and its 200 day moving average is $8.73. Medallion Financial has a fifty-two week low of $6.17 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.20 and a current ratio of 1.20.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.01). The company had revenue of $52.01 million during the quarter, compared to the consensus estimate of $54.89 million. Medallion Financial had a net margin of 17.96% and a return on equity of 12.47%.

Medallion Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.92%. The ex-dividend date is Tuesday, May 14th. Medallion Financial’s payout ratio is currently 18.87%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Denali Advisors LLC lifted its stake in shares of Medallion Financial by 100.4% during the 1st quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock worth $354,000 after acquiring an additional 22,400 shares during the last quarter. Jump Financial LLC purchased a new stake in Medallion Financial in the fourth quarter worth $161,000. AJOVista LLC bought a new stake in shares of Medallion Financial during the fourth quarter worth $90,000. Ritholtz Wealth Management boosted its stake in shares of Medallion Financial by 12.4% during the fourth quarter. Ritholtz Wealth Management now owns 37,663 shares of the credit services provider’s stock valued at $371,000 after purchasing an additional 4,144 shares during the period. Finally, Citigroup Inc. bought a new position in shares of Medallion Financial in the third quarter worth about $375,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.