Nuveen LLC Invests $164,000 in Medallion Financial Corp. $MFIN

Nuveen LLC bought a new position in Medallion Financial Corp. (NASDAQ:MFIN) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 18,781 shares of the credit services provider’s stock, valued at approximately $164,000. Nuveen LLC owned approximately 0.08% of Medallion Financial at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Medallion Financial by 24.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider’s stock worth $108,000 after acquiring an additional 2,256 shares in the last quarter. Deutsche Bank AG bought a new position in Medallion Financial during the fourth quarter valued at about $92,000. Raymond James Financial Inc. bought a new position in Medallion Financial during the fourth quarter valued at about $150,000. Barclays PLC boosted its position in Medallion Financial by 16.1% during the fourth quarter. Barclays PLC now owns 30,247 shares of the credit services provider’s stock worth $284,000 after purchasing an additional 4,184 shares during the period. Finally, Two Sigma Investments LP boosted its position in shares of Medallion Financial by 7.9% in the fourth quarter. Two Sigma Investments LP now owns 98,797 shares of the credit services provider’s stock valued at $928,000 after acquiring an additional 7,242 shares during the period. Institutional investors own 40.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $10.71 on Friday. Medallion Financial Corp. has a fifty-two week low of $7.39 and a fifty-two week high of $10.98. The business has a 50-day simple moving average of $10.07 and a two-hundred day simple moving average of $9.31. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.20. The firm has a market cap of $249.01 million, a price-to-earnings ratio of 6.09 and a beta of 1.42.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.30 by $0.16. Medallion Financial had a net margin of 12.62% and a return on equity of 9.04%. The firm had revenue of $53.37 million during the quarter, compared to analyst estimates of $52.07 million. On average, analysts expect that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 4.5%. Medallion Financial’s dividend payout ratio is presently 27.27%.

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.