BNP Paribas Financial Markets Buys 1,656 Shares of Medallion Financial Corp. (NASDAQ:MFIN)

BNP Paribas Financial Markets boosted its stake in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 52.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,820 shares of the credit services provider’s stock after purchasing an additional 1,656 shares during the period. BNP Paribas Financial Markets’ holdings in Medallion Financial were worth $39,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Ritholtz Wealth Management raised 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 acquiring an additional 4,862 shares during the period. Ridgewood Investments LLC bought a new position in shares of Medallion Financial in the second quarter worth approximately $38,000. Rhumbline Advisers increased its stake in shares of Medallion Financial by 2,306.5% in the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock worth $186,000 after purchasing an additional 23,180 shares in the last quarter. American Century Companies Inc. raised its position in shares of Medallion Financial by 30.6% during 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 purchasing an additional 43,917 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Medallion Financial by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after buying an additional 51,941 shares in the last quarter. Institutional investors own 40.56% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded Medallion Financial from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th.

Medallion Financial Stock Performance

NASDAQ:MFIN opened at $9.61 on Friday. The stock has a 50-day moving average price of $9.48 and a 200 day moving average price of $8.48. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial Corp. has a 12-month low of $6.48 and a 12-month high of $10.50. The stock has a market capitalization of $221.68 million, a P/E ratio of 5.69 and a beta of 2.11.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The business had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. During the same period last year, the firm posted $0.48 EPS. Equities research analysts forecast that Medallion Financial Corp. will post 1.48 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th were paid a $0.11 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 4.58%. This is a boost from Medallion Financial’s previous quarterly dividend of $0.10. Medallion Financial’s payout ratio is presently 26.04%.

Medallion Financial 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.