Spark Investment Management LLC increased its stake in shares of Marlin Business Services Corp. (NASDAQ:MRLN) by 106.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,700 shares of the financial services provider’s stock after buying an additional 11,700 shares during the period. Spark Investment Management LLC’s holdings in Marlin Business Services Corp. were worth $570,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in the stock. American International Group Inc. raised its stake in Marlin Business Services Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,102 shares of the financial services provider’s stock valued at $131,000 after buying an additional 339 shares during the last quarter. EAM Investors LLC bought a new stake in Marlin Business Services Corp. during the first quarter valued at $701,000. Prudential Financial Inc. raised its stake in Marlin Business Services Corp. by 5.1% in the first quarter. Prudential Financial Inc. now owns 54,021 shares of the financial services provider’s stock valued at $1,391,000 after buying an additional 2,600 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Marlin Business Services Corp. by 14.2% in the first quarter. JPMorgan Chase & Co. now owns 140,173 shares of the financial services provider’s stock valued at $3,609,000 after buying an additional 17,380 shares during the last quarter. Finally, Oxford Asset Management bought a new stake in Marlin Business Services Corp. during the first quarter valued at $446,000. Institutional investors own 77.86% of the company’s stock.

Shares of Marlin Business Services Corp. (NASDAQ MRLN) opened at 25.10 on Friday. The company’s 50-day moving average price is $25.35 and its 200 day moving average price is $24.84. The stock has a market cap of $306.67 million, a price-to-earnings ratio of 20.76 and a beta of 1.31. Marlin Business Services Corp. has a 12-month low of $17.05 and a 12-month high of $26.70.

Marlin Business Services Corp. declared that its Board of Directors has approved a share buyback program on Tuesday, May 30th that authorizes the company to buyback $10.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to reacquire up to 3.2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Monday, August 7th will be given a dividend of $0.14 per share. This is an increase from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.23%. Marlin Business Services Corp.’s dividend payout ratio (DPR) is presently 46.28%.

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Several analysts recently weighed in on the company. ValuEngine upgraded Marlin Business Services Corp. from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Marlin Business Services Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 price target on the stock in a report on Thursday, August 3rd. Finally, BidaskClub upgraded Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.50.

Marlin Business Services Corp. Company Profile

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

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Institutional Ownership by Quarter for Marlin Business Services Corp. (NASDAQ:MRLN)

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