Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above 200 Day Moving Average - Here's What Happened

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.19 and traded as high as $9.75. Medallion Financial shares last traded at $9.53, with a volume of 35,245 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Medallion Financial from a "hold" rating to a "buy" rating in a research report on Saturday.

Medallion Financial Stock Performance

The firm's fifty day moving average price is $8.63 and its 200-day moving average price is $8.20. The company has a market cap of $219.84 million, a P/E ratio of 5.64 and a beta of 2.12. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm 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 posted $0.48 earnings per share. As a group, research analysts forecast that Medallion Financial Corp. will post 1.48 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.11 dividend. This is a boost from Medallion Financial's previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 4.62%. The ex-dividend date is Friday, November 15th. Medallion Financial's dividend payout ratio (DPR) is 26.04%.

Institutional Investors Weigh In On Medallion Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its stake in shares of Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider's stock valued at $1,081,000 after purchasing an additional 52,857 shares during the period. Ritholtz Wealth Management increased its position in shares of Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider's stock worth $320,000 after purchasing an additional 4,862 shares in the last quarter. Rhumbline Advisers increased its position in shares of Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider's stock worth $186,000 after purchasing an additional 23,180 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Medallion Financial by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider's stock valued at $777,000 after acquiring an additional 3,125 shares during the last quarter. Finally, American Century Companies Inc. raised 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 purchasing an additional 43,917 shares during the last quarter. Institutional investors 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.