Medallion Financial (NASDAQ:MFIN) Cut to Strong Sell at Zacks Research

by · The Cerbat Gem

Zacks Research downgraded shares of Medallion Financial (NASDAQ:MFIN – Free Report) from a strong-buy rating to a strong sell rating in a research report released on Monday,Zacks reports.

MFIN has been the topic of a number of other research reports. Piper Sandler reissued a “neutral” rating and issued a $12.00 target price (up from $10.50) on shares of Medallion Financial in a research report on Friday, October 2nd. UBS Group restated a “neutral” rating on shares of Medallion Financial in a research report on Friday, October 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research note on Tuesday, September 29th. Finally, Raymond James Financial started coverage on Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $12.00.

Read Our Latest Analysis on MFIN

Medallion Financial Trading Down 0.2%

Shares of MFIN stock opened at $11.79 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 1.21. The firm has a market cap of $270.70 million, a PE ratio of 8.86 and a beta of 0.79. The company has a 50-day moving average of $11.62 and a two-hundred day moving average of $10.23. Medallion Financial has a 1-year low of $7.85 and a 1-year high of $12.26.

Medallion Financial (NASDAQ:MFIN – Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The business had revenue of $84.38 million for the quarter, compared to the consensus estimate of $58.98 million. On average, analysts predict that Medallion Financial will post 1.15 EPS for the current year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, August 17th. Medallion Financial’s dividend payout ratio (DPR) is presently 42.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Medallion Financial in the 2nd quarter valued at about $12,450,000. Tieton Capital Management LLC acquired a new position in shares of Medallion Financial during the second quarter worth about $10,297,000. Sei Investments Co. grew its position in shares of Medallion Financial by 124.0% during the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after buying an additional 271,789 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Medallion Financial during the second quarter worth approximately $2,057,000. Finally, De Lisle Partners LLP purchased a new stake in shares of Medallion Financial during the second quarter worth approximately $2,027,000. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Company Profile

(Get Free Report)

Medallion Financial Corp. (NASDAQ:MFIN) is a specialty finance company that provides financing to consumers, small businesses and commercial vehicle operators. The company operates primarily through Medallion Bank and Medallion Funding, offering loans through direct and indirect lending channels.

Medallion Bank provides consumer financing for products and services such as home improvements, recreational vehicles, boats and other lifestyle purchases. Medallion Funding focuses on commercial lending, including loans secured by taxi medallions and financing for taxi and other transportation-related businesses.

Founded in 1995, Medallion Financial has historically served borrowers in the United States through relationships with dealers, contractors and other business partners.

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