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

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

Medallion Financial Stock Performance

Shares of Medallion Financial stock traded up $0.30 during trading on Friday, hitting $9.49. 41,810 shares of the company's stock traded hands, compared to its average volume of 63,305. Medallion Financial has a 1 year low of $6.48 and a 1 year high of $10.50. The business has a 50-day simple moving average of $9.61 and a 200-day simple moving average of $8.57. 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 has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.01. The firm had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same period in the previous year, the business posted $0.48 earnings per share. As a group, analysts forecast that Medallion Financial will post 1.48 EPS for the current year.

Medallion Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a dividend yield of 4.64%. This is a positive change from Medallion Financial's previous quarterly dividend of $0.10. Medallion Financial's payout ratio is presently 26.04%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Barclays PLC grew its stake in shares of Medallion Financial by 297.6% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the credit services provider's stock valued at $213,000 after purchasing an additional 19,508 shares during the period. Soltis Investment Advisors LLC grew its position in Medallion Financial by 7.4% during the third quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider's stock valued at $475,000 after buying an additional 4,002 shares during the period. Geode Capital Management LLC increased its holdings in Medallion Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider's stock valued at $3,394,000 after buying an additional 9,849 shares during the last quarter. Jane Street Group LLC bought a new position in Medallion Financial in the third quarter worth approximately $117,000. Finally, State Street Corp boosted its stake in shares of Medallion Financial by 0.7% during the 3rd quarter. State Street Corp now owns 204,558 shares of the credit services provider's stock worth $1,665,000 after acquiring an additional 1,333 shares during the last quarter. Institutional investors own 40.56% of the company's stock.

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.