Manhattan Bridge Capital, Inc (LOAN) to Issue Quarterly Dividend of $0.11 on April 15th

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) announced a quarterly dividend on Monday, February 9th. Shareholders of record on Wednesday, April 8th will be paid a dividend of 0.11 per share by the credit services provider on Wednesday, April 15th. This represents a c) annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend is Wednesday, April 8th.

Manhattan Bridge Capital has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 1 years. Manhattan Bridge Capital has a dividend payout ratio of 91.7% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline.

Manhattan Bridge Capital Price Performance

Shares of LOAN opened at $4.60 on Monday. Manhattan Bridge Capital has a fifty-two week low of $4.13 and a fifty-two week high of $6.02. The firm’s 50 day moving average price is $4.42 and its 200 day moving average price is $4.75. The company has a market cap of $52.58 million, a P/E ratio of 10.22 and a beta of 0.21.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Friday, March 27th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.11 million. Manhattan Bridge Capital had a return on equity of 11.81% and a net margin of 58.97%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. increased its stake in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock valued at $31,000 after purchasing an additional 3,292 shares in the last quarter. RW Investment Management LLC purchased a new stake in Manhattan Bridge Capital during the third quarter worth $71,000. Bridgeway Capital Management LLC grew its holdings in Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after purchasing an additional 4,300 shares during the last quarter. Rothschild Wealth LLC purchased a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at $118,000. Finally, Kestra Advisory Services LLC increased its position in shares of Manhattan Bridge Capital by 94.2% in the fourth quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock valued at $120,000 after buying an additional 12,553 shares in the last quarter. Institutional investors and hedge funds own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.