Medallion Financial (NASDAQ:MFIN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Medallion Financial (NASDAQ:MFIN) from a hold rating to a buy rating in a report published on Monday.

Medallion Financial Stock Up 1.0 %

MFIN opened at $9.46 on Monday. Medallion Financial has a one year low of $6.48 and a one year high of $10.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.19 and a current ratio of 1.19. The stock has a market capitalization of $219.18 million, a P/E ratio of 5.60 and a beta of 2.14. The business’s 50-day simple moving average is $8.20 and its 200-day simple moving average is $8.05.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that Medallion Financial will post 1.49 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be given a dividend of $0.11 per share. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 4.65%. The ex-dividend date of this dividend is Friday, November 15th. Medallion Financial’s dividend payout ratio (DPR) is presently 26.04%.

Institutional Investors Weigh In On Medallion Financial

A number of institutional investors and hedge funds have recently made changes to their positions in MFIN. American Century Companies Inc. increased its position in 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. Rhumbline Advisers grew its stake in shares of Medallion Financial by 2,306.5% in the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after purchasing an additional 23,180 shares during the last quarter. Ritholtz Wealth Management increased its holdings in shares of Medallion Financial by 13.2% in the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after purchasing an additional 4,862 shares during the period. Panagora Asset Management Inc. purchased a new stake in shares of Medallion Financial during the second quarter worth approximately $462,000. Finally, Ridgewood Investments LLC acquired a new stake in shares of Medallion Financial during the second quarter worth $38,000. 40.56% of the stock is owned by hedge funds and other 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.