Manhattan Bridge Capital, Inc. Announces Quarterly Dividend of $0.12 (NASDAQ:LOAN)

Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) announced a quarterly dividend on Wednesday, November 27th,Wall Street Journal reports. Stockholders of record on Tuesday, December 31st will be paid a dividend of 0.115 per share by the credit services provider on Wednesday, January 15th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.58%. The ex-dividend date of this dividend is Tuesday, December 31st.

Manhattan Bridge Capital has increased its dividend by an average of 2.3% annually over the last three years. Manhattan Bridge Capital has a payout ratio of 92.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded up $0.08 during trading on Wednesday, reaching $5.36. The company had a trading volume of 13,983 shares, compared to its average volume of 20,510. Manhattan Bridge Capital has a 12-month low of $4.50 and a 12-month high of $5.90. The stock’s 50 day moving average price is $5.42 and its two-hundred day moving average price is $5.29. The firm has a market capitalization of $61.32 million, a price-to-earnings ratio of 10.92 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The firm had revenue of $2.31 million during the quarter.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Manhattan Bridge Capital in a report on Saturday. They issued a “strong-buy” rating for the company.

About Manhattan Bridge Capital

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.