Medallion Financial Corp. (MFIN) to Distribute Quarterly Dividend of $0.14 on August 31st

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Tuesday, July 28th. Stockholders of record on Monday, August 17th will be paid a dividend of 0.14 per share by the credit services provider on Monday, August 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, August 17th.

Medallion Financial has a payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.52 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 36.8%.

Medallion Financial Stock Performance

MFIN stock opened at $11.48 on Friday. The company has a market cap of $263.58 million, a P/E ratio of 8.63 and a beta of 0.78. The business’s fifty day moving average is $10.11 and its 200-day moving average is $9.74. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Medallion Financial has a twelve month low of $7.85 and a twelve month high of $11.57.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The business had revenue of $84.38 million for the quarter, compared to analyst estimates of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. Equities research analysts forecast that Medallion Financial will post 1.15 EPS for the current year.

Analysts Set New Price Targets

MFIN has been the subject of a number of research reports. Zacks Research upgraded Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Piper Sandler began coverage on shares of Medallion Financial in a research note on Friday, June 12th. They set a “neutral” rating and a $10.50 price target for the company. Raymond James Financial initiated coverage on shares of Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating for the company. Finally, Weiss Ratings raised shares of Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $10.50.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.