Marlin Business Services (NASDAQ:MRLN) Cut to “Strong Sell” at BidaskClub

Marlin Business Services (NASDAQ:MRLN) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Thursday, December 21st.

Several other analysts also recently weighed in on MRLN. Keefe, Bruyette & Woods initiated coverage on shares of Marlin Business Services in a research report on Tuesday, December 12th. They issued an “outperform” rating and a $26.00 price objective on the stock. Zacks Investment Research downgraded shares of Marlin Business Services from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $29.33.

Shares of Marlin Business Services (NASDAQ MRLN) opened at $23.60 on Thursday. The stock has a market cap of $295.21, a price-to-earnings ratio of 16.74 and a beta of 1.23. Marlin Business Services has a one year low of $20.10 and a one year high of $29.95.

Marlin Business Services (NASDAQ:MRLN) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.31 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.11). Marlin Business Services had a return on equity of 10.84% and a net margin of 13.40%. The company had revenue of $23.14 million for the quarter, compared to analyst estimates of $23.60 million.

Several hedge funds have recently added to or reduced their stakes in the business. Wells Fargo & Company MN raised its holdings in shares of Marlin Business Services by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 5,693 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 200 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Marlin Business Services by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,664 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 216 shares in the last quarter. New York State Common Retirement Fund raised its holdings in shares of Marlin Business Services by 4.5% in the 2nd quarter. New York State Common Retirement Fund now owns 14,520 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 619 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Marlin Business Services by 1.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 76,366 shares of the financial services provider’s stock worth $1,920,000 after purchasing an additional 903 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Marlin Business Services by 14.7% in the second quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 1,086 shares in the last quarter. Institutional investors own 80.28% of the company’s stock.

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About Marlin Business Services

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

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