Rhumbline Advisers Sells 1,351 Shares of Medallion Financial Corp. $MFIN

Rhumbline Advisers cut its position in shares of Medallion Financial Corp. (NASDAQ:MFIN) by 4.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,841 shares of the credit services provider’s stock after selling 1,351 shares during the quarter. Rhumbline Advisers owned about 0.12% of Medallion Financial worth $242,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MFIN. Hsbc Holdings PLC bought a new stake in shares of Medallion Financial during the 1st quarter valued at $161,000. Nuveen LLC purchased a new position in Medallion Financial during the 1st quarter valued at about $164,000. Deutsche Bank AG purchased a new position in Medallion Financial during the 4th quarter valued at about $92,000. Two Sigma Investments LP boosted its stake in Medallion Financial by 7.9% during the fourth quarter. Two Sigma Investments LP now owns 98,797 shares of the credit services provider’s stock worth $928,000 after acquiring an additional 7,242 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. purchased a new stake in Medallion Financial in the first quarter worth about $483,000. Institutional investors own 40.56% of the company’s stock.

Medallion Financial Price Performance

Shares of NASDAQ MFIN opened at $10.50 on Friday. Medallion Financial Corp. has a twelve month low of $7.71 and a twelve month high of $10.98. The firm has a market cap of $244.13 million, a P/E ratio of 5.97 and a beta of 1.42. The company has a 50 day moving average of $10.34 and a 200 day moving average of $9.52. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 0.38.

Medallion Financial (NASDAQ:MFIN) last issued its 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. The business had revenue of $53.37 million for the quarter, compared to the consensus estimate of $52.07 million. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%. As a group, research analysts expect that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 annualized dividend and a yield of 4.6%. Medallion Financial’s dividend payout ratio is currently 27.27%.

Analysts Set New Price Targets

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

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.