Medallion Financial Corp. (NASDAQ:MFIN) Expected to Post Q2 2024 Earnings of $0.33 Per Share

Medallion Financial Corp. (NASDAQ:MFIN) – Equities researchers at Northland Capmk lifted their Q2 2024 EPS estimates for Medallion Financial in a research report issued on Thursday, May 2nd. Northland Capmk analyst M. Grondahl now forecasts that the credit services provider will post earnings of $0.33 per share for the quarter, up from their prior forecast of $0.31. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Medallion Financial’s Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.45 EPS.

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.

Medallion Financial Stock Up 1.5 %

MFIN stock opened at $7.97 on Monday. The company has a market cap of $186.34 million, a price-to-earnings ratio of 3.76 and a beta of 2.08. The company has a fifty day moving average price of $7.87 and a 200 day moving average price of $8.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.20. Medallion Financial has a 12 month low of $5.75 and a 12 month high of $10.49.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $52.01 million during the quarter, compared to analysts’ expectations of $54.89 million. Medallion Financial had a net margin of 17.96% and a return on equity of 12.47%.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 5.02%. Medallion Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Investors Weigh In On Medallion Financial

Large investors have recently modified their holdings of the stock. Barclays PLC purchased a new position in Medallion Financial during the 3rd quarter worth $57,000. AJOVista LLC purchased a new position in Medallion Financial during the fourth quarter worth about $90,000. EAM Investors LLC acquired a new stake in Medallion Financial in the third quarter valued at about $125,000. PAX Financial Group LLC acquired a new position in Medallion Financial during the 3rd quarter worth approximately $130,000. Finally, Jump Financial LLC acquired a new position in Medallion Financial during the 4th quarter worth approximately $161,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

About Medallion Financial

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.