Manhattan Bridge Capital (NASDAQ:LOAN) Posts Quarterly Earnings Results, Meets Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) issued its quarterly earnings results on Wednesday. The credit services provider reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11, FiscalAI reports. Manhattan Bridge Capital had a return on equity of 11.02% and a net margin of 58.30%. The firm had revenue of $0.00 million during the quarter, compared to analysts’ expectations of $2.04 million.

Manhattan Bridge Capital Stock Performance

Shares of NASDAQ LOAN traded down $0.03 during trading on Wednesday, hitting $3.39. 9,669 shares of the company were exchanged, compared to its average volume of 31,126. Manhattan Bridge Capital has a 12-month low of $3.31 and a 12-month high of $5.27. The company has a fifty day moving average price of $3.88 and a 200-day moving average price of $4.18. The firm has a market capitalization of $38.73 million, a PE ratio of 8.07 and a beta of 0.20.

Manhattan Bridge Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 8th were paid a $0.11 dividend. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 13.0%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is 104.76%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Zacks Research raised shares of Manhattan Bridge Capital to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings cut shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Insider Buying and Selling at Manhattan Bridge Capital

In other news, CEO Assaf Ran acquired 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 28th. The stock was purchased at an average price of $3.99 per share, with a total value of $31,920.00. Following the completion of the acquisition, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This trade represents a 0.65% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 24.60% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.