B. Riley Equities Analysts Lift Earnings Estimates for Medallion Financial Corp. (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN – Get Rating) – Research analysts at B. Riley upped their Q2 2023 earnings estimates for shares of Medallion Financial in a report issued on Friday, May 12th. B. Riley analyst M. Howlett now anticipates that the credit services provider will post earnings per share of $0.42 for the quarter, up from their prior forecast of $0.40. The consensus estimate for Medallion Financial’s current full-year earnings is $1.64 per share. B. Riley also issued estimates for Medallion Financial’s Q3 2023 earnings at $0.44 EPS, Q4 2023 earnings at $0.46 EPS, Q1 2024 earnings at $0.45 EPS, Q2 2024 earnings at $0.48 EPS, Q3 2024 earnings at $0.50 EPS and Q4 2024 earnings at $0.53 EPS.

Medallion Financial (NASDAQ:MFIN – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The credit services provider reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.27. Medallion Financial had a net margin of 22.51% and a return on equity of 13.54%. The business had revenue of $44.46 million during the quarter, compared to the consensus estimate of $42.40 million.

Several other research firms also recently commented on MFIN. StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research note on Thursday, April 27th. LADENBURG THALM/SH SH initiated coverage on shares of Medallion Financial in a research report on Monday, April 3rd. They set a “neutral” rating for the company.

Medallion Financial Stock Down 2.4 %

Medallion Financial stock opened at $6.64 on Monday. Medallion Financial has a fifty-two week low of $5.42 and a fifty-two week high of $9.35. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a 50 day moving average price of $7.09 and a 200 day moving average price of $7.39. The company has a market capitalization of $154.86 million, a PE ratio of 3.16 and a beta of 1.99.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MFIN. Advisor Group Holdings Inc. increased its stake in shares of Medallion Financial by 35.9% during the first quarter. Advisor Group Holdings Inc. now owns 30,264 shares of the credit services provider’s stock worth $257,000 after acquiring an additional 8,000 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Medallion Financial by 100.8% during the 1st quarter. JPMorgan Chase & Co. now owns 32,197 shares of the credit services provider’s stock worth $273,000 after purchasing an additional 16,161 shares in the last quarter. Citigroup Inc. acquired a new stake in Medallion Financial during the first quarter worth approximately $239,000. Vanguard Group Inc. boosted its position in Medallion Financial by 3.2% during the first quarter. Vanguard Group Inc. now owns 938,516 shares of the credit services provider’s stock worth $7,978,000 after acquiring an additional 29,247 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Medallion Financial by 115.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 64,829 shares of the credit services provider’s stock worth $551,000 after acquiring an additional 34,704 shares during the last quarter. 26.93% of the stock is currently owned by institutional investors and hedge funds.

Medallion Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 31st. Stockholders of record on Monday, May 15th will be issued a $0.08 dividend. The ex-dividend date is Friday, May 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.82%. Medallion Financial’s payout ratio is 15.24%.

Medallion Financial Company Profile

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Acts as Private Equity Fund