Medallion Financial Corp. (NASDAQ:MFIN - Free Report) - Equities research analysts at Northland Capmk raised their FY2024 earnings per share estimates for Medallion Financial in a report released on Wednesday, October 30th. Northland Capmk analyst M. Grondahl now anticipates that the credit services provider will earn $1.42 per share for the year, up from their prior estimate of $1.41. The consensus estimate for Medallion Financial's current full-year earnings is $1.49 per share.
Separately, StockNews.com raised shares of Medallion Financial from a "hold" rating to a "buy" rating in a research report on Monday, October 28th.
View Our Latest Stock Analysis on MFIN
Shares of MFIN stock opened at $9.60 on Monday. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.14. The company has a market cap of $222.43 million, a PE ratio of 5.68 and a beta of 2.12. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. The business's 50 day moving average is $8.27 and its two-hundred day moving average is $8.07.
Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.59%. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. During the same quarter in the previous year, the business earned $0.48 EPS.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 4.58%. This is a positive change from Medallion Financial's previous quarterly dividend of $0.10. The ex-dividend date is Friday, November 15th. Medallion Financial's payout ratio is currently 23.67%.
Hedge funds have recently modified their holdings of the company. American Century Companies Inc. lifted its position in Medallion Financial by 30.6% in the second 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. Rhumbline Advisers boosted its position in shares of Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider's stock valued at $186,000 after acquiring an additional 23,180 shares in the last quarter. Ritholtz Wealth Management boosted its position in shares of Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider's stock valued at $320,000 after acquiring an additional 4,862 shares in the last quarter. Panagora Asset Management Inc. bought a new stake in Medallion Financial in the second quarter valued at about $462,000. Finally, Ridgewood Investments LLC acquired a new position in Medallion Financial in the second quarter worth about $38,000. Institutional investors own 40.56% of the company's stock.
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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