Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

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

Manhattan Bridge Capital Stock Up 0.6 %

Manhattan Bridge Capital stock traded up $0.04 during midday trading on Monday, reaching $5.50. 27,800 shares of the stock traded hands, compared to its average volume of 20,460. The stock has a market cap of $62.92 million, a P/E ratio of 11.22 and a beta of 0.57. The stock's fifty day moving average is $5.43 and its 200-day moving average is $5.30. Manhattan Bridge Capital has a 12 month low of $4.60 and a 12 month high of $5.90.

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

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.36%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital's payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Large investors have recently added to or reduced their stakes in the stock. Riversedge Advisors LLC purchased a new stake in shares of Manhattan Bridge Capital in the second quarter valued at $68,000. B. Riley Wealth Advisors Inc. raised its position in Manhattan Bridge Capital by 35.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider's stock worth $120,000 after purchasing an additional 6,117 shares during the period. Waddell & Associates LLC lifted its stake in Manhattan Bridge Capital by 3.9% in the second quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider's stock worth $396,000 after purchasing an additional 2,861 shares during the last quarter. Geode Capital Management LLC lifted its stake in Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider's stock worth $635,000 after purchasing an additional 3,008 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. boosted its position in shares of Manhattan Bridge Capital by 53.4% during the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider's stock valued at $724,000 after buying an additional 45,222 shares during the period. 21.84% of the stock is owned by 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.