Medallion Financial (NASDAQ:MFIN) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a hold rating in a research note issued to investors on Friday.

Medallion Financial Stock Up 3.3 %

NASDAQ:MFIN opened at $9.49 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market capitalization of $218.92 million, a P/E ratio of 5.62 and a beta of 2.09. The company’s 50-day simple moving average is $9.61 and its 200-day simple moving average is $8.58. Medallion Financial has a fifty-two week low of $6.48 and a fifty-two week high of $10.50.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The business had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. During the same period in the previous year, the company earned $0.48 earnings per share. On average, equities analysts anticipate that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, November 15th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. Medallion Financial’s dividend payout ratio (DPR) is currently 26.04%.

Hedge Funds Weigh In On Medallion Financial

Hedge funds have recently modified their holdings of the stock. Segall Bryant & Hamill LLC purchased a new stake in Medallion Financial during the 3rd quarter worth approximately $1,025,000. Bank of New York Mellon Corp lifted its stake in shares of Medallion Financial by 60.1% during 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 buying an additional 52,857 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Medallion Financial by 32.2% during the third 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 during the last quarter. American Century Companies Inc. increased its position in shares of 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 valued at $1,439,000 after acquiring an additional 43,917 shares during the period. Finally, Rhumbline Advisers raised 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 acquiring an additional 23,180 shares during the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

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.