Medallion Financial (NASDAQ:MFIN) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Medallion Financial Corp. (NASDAQ:MFIN) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.19 and traded as high as $10.80. Medallion Financial shares last traded at $10.43, with a volume of 143,356 shares.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on MFIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a research note on Thursday, January 22nd. Wall Street Zen lowered Medallion Financial from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research cut Medallion Financial from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 19th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

Medallion Financial Stock Down 0.5%

The firm’s 50 day simple moving average is $10.24 and its 200-day simple moving average is $10.19. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $235.36 million, a price-to-earnings ratio of 5.68 and a beta of 0.78.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Wednesday, February 18th. The credit services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $55.92 million during the quarter, compared to the consensus estimate of $56.20 million. Medallion Financial had a net margin of 12.18% and a return on equity of 9.45%. Equities analysts expect that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 19th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Thursday, March 19th. Medallion Financial’s dividend payout ratio (DPR) is currently 26.97%.

Institutional Investors Weigh In On Medallion Financial

Several large investors have recently made changes to their positions in MFIN. Hillsdale Investment Management Inc. acquired a new position in Medallion Financial during the second quarter worth approximately $272,000. Allworth Financial LP acquired a new stake in Medallion Financial during the 2nd quarter valued at $152,000. Corsair Capital Management L.P. boosted its position in Medallion Financial by 14.3% during the second quarter. Corsair Capital Management L.P. now owns 47,096 shares of the credit services provider’s stock worth $449,000 after purchasing an additional 5,900 shares during the period. De Lisle Partners LLP boosted its holdings in shares of Medallion Financial by 19.5% during the 2nd quarter. De Lisle Partners LLP now owns 123,757 shares of the credit services provider’s stock worth $1,181,000 after buying an additional 20,212 shares during the period. Finally, Kestra Advisory Services LLC acquired a new position in Medallion Financial in the 4th quarter valued at about $42,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.