Medallion Financial Corp. (NASDAQ:MFIN) Stock Now Rated “Hold” by Sell-Side Brokerages

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have been assigned a consensus rating of “Hold” from the five brokerages that are currently covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $12.00.

MFIN has been the topic of a number of research analyst reports. Raymond James Financial began coverage on shares of Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Zacks Research upgraded Medallion Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday. Piper Sandler reissued a “neutral” rating and issued a $12.00 price objective (up from $10.50) on shares of Medallion Financial in a report on Friday. UBS Group reaffirmed a “neutral” rating on shares of Medallion Financial in a report on Friday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Medallion Financial in a research report on Tuesday.

Medallion Financial Stock Performance

MFIN traded down $0.06 on Friday, reaching $11.86. The company had a trading volume of 26,782 shares, compared to its average volume of 67,318. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The company’s fifty day moving average is $11.46 and its 200 day moving average is $10.15. Medallion Financial has a fifty-two week low of $7.85 and a fifty-two week high of $12.26. The stock has a market cap of $272.40 million, a P/E ratio of 8.92 and a beta of 0.79.

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

Medallion Financial Announces Dividend

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

Institutional Trading of Medallion Financial

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

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides financing to individuals and businesses, with a historical focus on loans secured by taxicab medallions and related taxi assets. Through its lending subsidiaries, the company has supported taxi operators and medallion owners in major U.S. metropolitan areas.

In addition to taxi-medallion lending, Medallion Financial has expanded into other consumer and commercial finance activities. Its businesses have included recreational lending for products such as boats and recreational vehicles, as well as financing for home improvements and other consumer purposes.