Medallion Financial Corp. (NASDAQ:MFIN) Plans $0.12 Quarterly Dividend

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Wednesday, February 18th. Investors of record on Thursday, March 19th will be given a dividend of 0.12 per share by the credit services provider on Tuesday, March 31st. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Thursday, March 19th.

Medallion Financial has a payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 29.8%.

Medallion Financial Stock Up 2.0%

Shares of NASDAQ MFIN opened at $10.62 on Thursday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.43. The business’s 50 day moving average is $10.32 and its two-hundred day moving average is $10.20. Medallion Financial has a 52-week low of $7.71 and a 52-week high of $10.98. The firm has a market cap of $247.23 million, a price-to-earnings ratio of 6.21 and a beta of 0.77.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings data on Wednesday, February 18th. The credit services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The business had revenue of $55.92 million during the quarter, compared to analysts’ expectations of $56.20 million. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%. Research analysts predict that Medallion Financial will post 1.46 EPS for the current year.

Institutional Trading of Medallion Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in MFIN. BNP Paribas Financial Markets boosted its position in shares of Medallion Financial by 45.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock valued at $37,000 after purchasing an additional 1,150 shares during the period. Kestra Advisory Services LLC purchased a new stake in Medallion Financial in the fourth quarter valued at approximately $42,000. Daytona Street Capital LLC purchased a new stake in Medallion Financial in the fourth quarter valued at approximately $51,000. Tower Research Capital LLC TRC boosted its holdings in shares of Medallion Financial by 533.1% in the second quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock valued at $60,000 after acquiring an additional 5,288 shares during the period. Finally, Osaic Holdings Inc. purchased a new position in shares of Medallion Financial during the second quarter worth approximately $76,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

About Medallion Financial

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.