Medallion Financial (NASDAQ:MFIN) Shares Pass Above 200 Day Moving Average – Here’s Why

Medallion Financial Corp. (NASDAQ:MFIN)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.16 and traded as high as $10.25. Medallion Financial shares last traded at $10.15, with a volume of 49,309 shares traded.

Wall Street Analyst Weigh In

A number of analysts recently commented on MFIN shares. Wall Street Zen lowered Medallion Financial from a “strong-buy” rating to a “buy” rating in a report on Monday, August 11th. LADENBURG THALM/SH SH raised Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Medallion Financial has an average rating of “Buy” and a consensus price target of $12.00.

Medallion Financial Stock Down 0.6%

The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 0.38. The company has a market cap of $235.99 million, a PE ratio of 5.77 and a beta of 1.28. The stock has a 50-day moving average of $9.78 and a 200-day moving average of $9.16.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.16. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%.The company had revenue of $53.37 million for the quarter, compared to the consensus estimate of $52.07 million. Sell-side analysts predict that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 15th. Medallion Financial’s dividend payout ratio is currently 27.27%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MFIN. Geode Capital Management LLC increased its stake in Medallion Financial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 419,217 shares of the credit services provider’s stock valued at $3,937,000 after acquiring an additional 2,261 shares during the last quarter. Wells Fargo & Company MN increased its stake in Medallion Financial by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider’s stock valued at $108,000 after acquiring an additional 2,256 shares during the last quarter. Raymond James Financial Inc. bought a new position in Medallion Financial in the fourth quarter valued at $150,000. Barclays PLC increased its stake in Medallion Financial by 16.1% in the fourth quarter. Barclays PLC now owns 30,247 shares of the credit services provider’s stock valued at $284,000 after acquiring an additional 4,184 shares during the last quarter. Finally, Mariner LLC bought a new position in Medallion Financial in the fourth quarter valued at $112,000. Institutional investors own 40.56% of the company’s stock.

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.