Medallion Financial (NASDAQ:MFIN) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

by · The Cerbat Gem

Shares of Medallion Financial Corp. (NASDAQ:MFIN – Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $9.74 and traded as high as $9.91. Medallion Financial shares last traded at $9.30, with a volume of 79,679 shares trading hands.

Analysts Set New Price Targets

MFIN has been the subject of a number of research reports. Weiss Ratings restated a “hold (c)” rating on shares of Medallion Financial in a research note on Wednesday, October 8th. LADENBURG THALM/SH SH upgraded Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research note on Thursday, July 31st. Finally, Wall Street Zen downgraded Medallion Financial from a “strong-buy” rating to a “buy” rating in a research note on Monday, August 11th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, Medallion Financial presently has an average rating of “Moderate Buy” and a consensus price target of $12.00.

View Our Latest Stock Analysis on MFIN

Medallion Financial Stock Performance

The stock has a fifty day moving average price of $10.24 and a two-hundred day moving average price of $9.74. The company has a market cap of $216.20 million, a P/E ratio of 5.28 and a beta of 1.38. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.20 and a quick ratio of 1.17.

Medallion Financial (NASDAQ:MFIN – Get Free Report) last released its quarterly earnings results on Wednesday, October 29th. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.17. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%. On average, equities analysts forecast that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 24th. Investors of record on Wednesday, November 12th will be issued a dividend of $0.12 per share. The ex-dividend date of this dividend is Wednesday, November 12th. This represents a $0.48 annualized dividend and a yield of 5.2%. Medallion Financial’s payout ratio is presently 27.27%.

Institutional Investors Weigh In On Medallion Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC raised its holdings in Medallion Financial by 1.9% during the second quarter. Bridgeway Capital Management LLC now owns 141,637 shares of the credit services provider’s stock worth $1,350,000 after purchasing an additional 2,692 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Medallion Financial by 1.0% during the first quarter. Bank of New York Mellon Corp now owns 126,625 shares of the credit services provider’s stock worth $1,103,000 after purchasing an additional 1,258 shares in the last quarter. De Lisle Partners LLP raised its holdings in Medallion Financial by 19.5% during the second quarter. De Lisle Partners LLP now owns 123,757 shares of the credit services provider’s stock worth $1,181,000 after purchasing an additional 20,212 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Medallion Financial by 14.0% during the second quarter. Arrowstreet Capital Limited Partnership now owns 118,321 shares of the credit services provider’s stock worth $1,128,000 after purchasing an additional 14,557 shares in the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Medallion Financial by 10.5% during the third quarter. Ritholtz Wealth Management now owns 83,844 shares of the credit services provider’s stock worth $847,000 after purchasing an additional 7,978 shares in the last quarter. Institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

(Get Free Report)

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.

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