Equities Analysts Set Expectations for MFIN FY2024 Earnings

Medallion Financial Corp. (NASDAQ:MFIN - Free Report) - Analysts at Northland Capmk boosted their FY2024 EPS estimates for shares of Medallion Financial in a research note issued on Wednesday, October 30th. Northland Capmk analyst M. Grondahl now expects that the credit services provider will post earnings per share of $1.42 for the year, up from their previous estimate of $1.41. The consensus estimate for Medallion Financial's current full-year earnings is $1.49 per share.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.36 by $0.01. The company had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a return on equity of 9.59% and a net margin of 13.72%. During the same period in the previous year, the business earned $0.48 EPS.

Separately, StockNews.com raised Medallion Financial from a "hold" rating to a "buy" rating in a research note on Monday, October 28th.

Medallion Financial Stock Down 3.3 %

NASDAQ MFIN traded down $0.32 on Monday, hitting $9.28. 64,574 shares of the company were exchanged, compared to its average volume of 91,687. The company has a market cap of $215.01 million, a PE ratio of 5.49 and a beta of 2.12. The stock has a fifty day moving average of $8.27 and a 200-day moving average of $8.07. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.14.

Medallion Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.74%. The ex-dividend date of this dividend is Friday, November 15th. This is a positive change from Medallion Financial's previous quarterly dividend of $0.10. Medallion Financial's dividend payout ratio (DPR) is currently 26.04%.

Hedge Funds Weigh In On Medallion Financial

Hedge funds have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in shares of Medallion Financial by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider's stock worth $777,000 after buying an additional 3,125 shares during the last quarter. Ritholtz Wealth Management lifted its position in Medallion Financial by 13.2% in the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider's stock worth $320,000 after buying an additional 4,862 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Medallion Financial in the 2nd quarter worth approximately $38,000. Fortis Capital Advisors LLC bought a new stake in Medallion Financial in the first quarter worth $169,000. Finally, Rhumbline Advisers boosted its holdings in Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider's stock valued at $186,000 after acquiring an additional 23,180 shares during the period. 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.