Medallion Financial Corp. (NASDAQ:MFIN – Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $8.67 and traded as high as $9.29. Medallion Financial shares last traded at $9.23, with a volume of 25,636 shares.
Analysts Set New Price Targets
Separately, StockNews.com downgraded shares of Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, January 3rd.
Read Our Latest Report on MFIN
Medallion Financial Trading Up 0.8 %
Medallion Financial (NASDAQ:MFIN – Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same period in the previous year, the business posted $0.48 EPS. On average, equities research analysts expect that Medallion Financial Corp. will post 1.48 EPS for the current year.
Medallion Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 4.77%. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. Medallion Financial’s dividend payout ratio (DPR) is currently 26.04%.
Institutional Trading of Medallion Financial
A number of hedge funds have recently made changes to their positions in the stock. Bank of New York Mellon Corp raised its stake in shares of Medallion Financial by 60.1% in the second quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after purchasing an additional 52,857 shares during the last quarter. Rhumbline Advisers increased its stake in Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares in the last quarter. American Century Companies Inc. boosted its stake in Medallion Financial by 30.6% in the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after purchasing an additional 43,917 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Medallion Financial in the third quarter worth about $1,025,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Medallion Financial by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after buying an additional 51,941 shares in the last quarter. 40.56% of the stock is owned by institutional investors.
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.
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