Medallion Financial Corp. (NASDAQ:MFIN) Stock Has Average Target Price of $12.00

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have earned an average rating of “Reduce” from the five research firms that are presently covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation and four have assigned a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $12.00.

MFIN has been the topic of a number of recent research reports. Weiss Ratings restated a “hold (c)” rating on shares of Medallion Financial in a report on Tuesday, September 29th. Piper Sandler reissued a “neutral” rating and issued a $12.00 price target (up from $10.50) on shares of Medallion Financial in a research report on Friday, October 2nd. Raymond James Financial assumed coverage on Medallion Financial in a research note on Thursday, July 9th. They issued a “market perform” rating on the stock. UBS Group reiterated a “neutral” rating on shares of Medallion Financial in a research note on Friday, October 2nd. Finally, Zacks Research cut Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Monday.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of MFIN. BlackRock Inc. purchased a new stake in Medallion Financial during the 2nd quarter valued at $12,450,000. Tieton Capital Management LLC bought a new stake in Medallion Financial in the 2nd quarter worth about $10,297,000. Sei Investments Co. raised its position in Medallion Financial by 124.0% in the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after buying an additional 271,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Medallion Financial during the 2nd quarter valued at about $2,057,000. Finally, De Lisle Partners LLP purchased a new stake in shares of Medallion Financial during the 2nd quarter valued at about $2,027,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Stock Performance

Shares of MFIN stock opened at $12.05 on Friday. Medallion Financial has a 12 month low of $7.85 and a 12 month high of $12.26. The stock has a market cap of $276.67 million, a PE ratio of 9.06 and a beta of 0.79. The company has a current ratio of 1.22, a quick ratio of 1.21 and a debt-to-equity ratio of 0.57. The company’s fifty day moving average price is $11.66 and its 200-day moving average price is $10.26.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.02. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The company had revenue of $84.38 million during the quarter, compared to analyst estimates of $58.98 million. On average, equities analysts expect that Medallion Financial will post 1.15 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 31st. Stockholders of record on Monday, August 17th were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Monday, August 17th. Medallion Financial’s payout ratio is currently 42.11%.

About Medallion Financial

Medallion Financial Corp. (NASDAQ:MFIN) is a specialty finance company that provides financing to consumers, small businesses and commercial vehicle operators. The company operates primarily through Medallion Bank and Medallion Funding, offering loans through direct and indirect lending channels.

Medallion Bank provides consumer financing for products and services such as home improvements, recreational vehicles, boats and other lifestyle purchases. Medallion Funding focuses on commercial lending, including loans secured by taxi medallions and financing for taxi and other transportation-related businesses.

Founded in 1995, Medallion Financial has historically served borrowers in the United States through relationships with dealers, contractors and other business partners.