StockNews.com Begins Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

StockNews.com assumed coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN - Free Report) in a research note released on Thursday. The brokerage issued a strong-buy rating on the credit services provider's stock.

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock traded down $0.05 during trading hours on Thursday, hitting $5.10. The company had a trading volume of 3,625 shares, compared to its average volume of 19,707. The firm has a market cap of $58.34 million, a P/E ratio of 10.41 and a beta of 0.26. The company has a 50-day moving average price of $5.49 and a two-hundred day moving average price of $5.50. Manhattan Bridge Capital has a 1 year low of $4.74 and a 1 year high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last posted its earnings results on Thursday, April 24th. The credit services provider reported $0.12 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 business had revenue of $2.27 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 9.02%. The ex-dividend date of this dividend is Tuesday, July 8th. Manhattan Bridge Capital's dividend payout ratio is currently 97.87%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of large investors have recently made changes to their positions in the stock. Gen Wealth Partners Inc lifted its stake in Manhattan Bridge Capital by 5.1% during the 4th quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider's stock valued at $217,000 after acquiring an additional 1,896 shares during the period. Geode Capital Management LLC boosted its stake in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider's stock worth $635,000 after acquiring an additional 3,008 shares in the last quarter. Atria Wealth Solutions Inc. grew its position in shares of Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider's stock valued at $159,000 after acquiring an additional 3,324 shares during the period. OLIO Financial Planning boosted its position in Manhattan Bridge Capital by 17.5% during the first quarter. OLIO Financial Planning now owns 24,568 shares of the credit services provider's stock worth $145,000 after purchasing an additional 3,665 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock worth $157,000 after buying an additional 6,215 shares during the period. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

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.