StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report issued on Sunday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Down 1.9 %

LOAN opened at $5.64 on Friday. Manhattan Bridge Capital has a 12-month low of $4.69 and a 12-month high of $5.90. The firm has a market capitalization of $64.52 million, a PE ratio of 11.51 and a beta of 0.48. The firm has a 50 day moving average of $5.61 and a two-hundred day moving average of $5.50.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.36 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Tuesday, April 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 8.16%. The ex-dividend date of this dividend is Tuesday, April 8th. Manhattan Bridge Capital’s dividend payout ratio is presently 95.83%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several institutional investors have recently made changes to their positions in LOAN. Soltis Investment Advisors LLC purchased a new position in shares of Manhattan Bridge Capital during the 3rd quarter valued at approximately $14,758,000. Cary Street Partners Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $1,684,000. Fortress Financial Solutions LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $685,000. Capital Management Associates Inc purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $184,000. Finally, LPL Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at approximately $169,000. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.