Medallion Financial (NASDAQ:MFIN) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Medallion Financial (NASDAQ:MFIN) from a buy rating to a hold rating in a research report report published on Friday.

Medallion Financial Stock Performance

NASDAQ:MFIN opened at $7.62 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market capitalization of $178.13 million, a price-to-earnings ratio of 3.59 and a beta of 2.17. The company’s 50-day moving average is $7.97 and its two-hundred day moving average is $8.18. Medallion Financial has a 1-year low of $6.28 and a 1-year high of $10.14.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.03). The firm had revenue of $71.80 million during the quarter, compared to analyst estimates of $50.39 million. Medallion Financial had a net margin of 14.97% and a return on equity of 10.44%. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Analysts forecast that Medallion Financial will post 1.48 EPS for the current year.

Medallion Financial Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Thursday, August 15th will be paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date is Thursday, August 15th. Medallion Financial’s dividend payout ratio (DPR) is 18.87%.

Institutional Investors Weigh In On Medallion Financial

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. raised its stake in shares of Medallion Financial by 30.6% in the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock valued at $1,439,000 after acquiring an additional 43,917 shares during the period. Rhumbline Advisers increased its stake in Medallion Financial by 2,306.5% during the 2nd quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after buying an additional 23,180 shares during the period. Ritholtz Wealth Management increased its stake in Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after buying an additional 4,862 shares during the period. Panagora Asset Management Inc. purchased a new stake in Medallion Financial during the 2nd quarter worth approximately $462,000. Finally, Ridgewood Investments LLC purchased a new stake in Medallion Financial during the 2nd quarter worth approximately $38,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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.