Medallion Financial (NASDAQ:MFIN) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Medallion Financial Corp. (NASDAQ:MFIN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.94 and traded as high as $10.67. Medallion Financial shares last traded at $10.51, with a volume of 37,355 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Zacks Research downgraded shares of Medallion Financial from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Medallion Financial in a report on Wednesday, October 8th. Finally, Wall Street Zen downgraded shares of Medallion Financial from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Medallion Financial Stock Performance

The stock has a 50-day simple moving average of $9.90 and a 200-day simple moving average of $9.94. The stock has a market cap of $244.67 million, a PE ratio of 6.15 and a beta of 0.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.18.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Wednesday, October 29th. The credit services provider reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.17. Medallion Financial had a net margin of 12.12% and a return on equity of 9.28%. The business had revenue of $55.69 million for the quarter, compared to analyst estimates of $53.76 million. Equities analysts predict that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 24th. Shareholders of record on Wednesday, November 12th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Wednesday, November 12th. Medallion Financial’s dividend payout ratio is currently 28.07%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in 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 worth $37,000 after buying an additional 1,150 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake 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 worth $60,000 after acquiring an additional 5,288 shares in the last quarter. Osaic Holdings Inc. purchased a new position in Medallion Financial in the second quarter valued at about $76,000. MetLife Investment Management LLC boosted its holdings in Medallion Financial by 25.4% in the first quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider’s stock valued at $99,000 after purchasing an additional 2,293 shares during the last quarter. Finally, Baron Wealth Management LLC acquired a new stake in Medallion Financial during the 2nd quarter valued at approximately $103,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

About Medallion Financial

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.