Equities Analysts Set Expectations for Medallion Financial Corp.’s Q3 2024 Earnings (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Analysts at B. Riley issued their Q3 2024 earnings estimates for Medallion Financial in a research note issued on Monday, September 23rd. B. Riley analyst M. Howlett forecasts that the credit services provider will post earnings of $0.38 per share for the quarter. The consensus estimate for Medallion Financial’s current full-year earnings is $1.48 per share. B. Riley also issued estimates for Medallion Financial’s FY2024 earnings at $1.51 EPS.

Separately, StockNews.com cut Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, August 9th.

Medallion Financial Trading Up 0.5 %

NASDAQ MFIN opened at $8.12 on Thursday. The stock’s 50-day simple moving average is $7.90 and its two-hundred day simple moving average is $7.92. Medallion Financial has a twelve month low of $6.28 and a twelve month high of $10.14. 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 company has a market capitalization of $188.14 million, a price-to-earnings ratio of 3.83 and a beta of 2.16.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). The company had revenue of $71.80 million for the quarter, compared to the consensus estimate of $50.39 million. Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. During the same period in the prior year, the firm posted $0.62 earnings per share.

Medallion Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were issued a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.93%. Medallion Financial’s payout ratio is 18.87%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MFIN. Panagora Asset Management Inc. purchased a new position in shares of Medallion Financial in the second quarter worth $462,000. Bank of New York Mellon Corp grew its holdings in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after acquiring an additional 52,857 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Medallion Financial by 30.6% during the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock valued at $1,439,000 after acquiring an additional 43,917 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Medallion Financial by 2,306.5% during the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after purchasing an additional 23,180 shares during the period. Finally, Denali Advisors LLC grew its stake in shares of Medallion Financial by 100.4% in the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock worth $354,000 after purchasing an additional 22,400 shares during the last quarter. 40.56% of the stock is owned by institutional investors.

Medallion Financial Company Profile

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.