Medallion Financial (NASDAQ:MFIN) Stock Passes Above Two Hundred Day Moving Average – Should You Sell?

Medallion Financial Corp. (NASDAQ:MFIN) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.72 and traded as high as $11.50. Medallion Financial shares last traded at $11.43, with a volume of 81,414 shares changing hands.

Wall Street Analyst Weigh In

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

Medallion Financial Stock Up 0.4%

The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 1.21. The company has a market capitalization of $263.58 million, a P/E ratio of 8.63 and a beta of 0.78. The stock has a 50-day moving average price of $10.11 and a 200-day moving average price of $9.74.

Medallion Financial (NASDAQ:MFIN) last posted 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. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%.The company had revenue of $84.38 million for the quarter, compared to analyst estimates of $58.98 million. On average, research analysts predict that Medallion Financial Corp. will post 1.15 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 17th will be given a $0.14 dividend. The ex-dividend date is Monday, August 17th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.9%. Medallion Financial’s payout ratio is 42.11%.

Institutional Investors Weigh In On Medallion Financial

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its stake in Medallion Financial by 4.4% during the third quarter. Bank of America Corp DE now owns 26,318 shares of the credit services provider’s stock worth $266,000 after buying an additional 1,112 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Medallion Financial by 45.0% during the third quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock valued at $37,000 after acquiring an additional 1,150 shares during the last quarter. Barclays PLC grew its holdings in Medallion Financial by 5.1% during the 4th quarter. Barclays PLC now owns 37,672 shares of the credit services provider’s stock worth $388,000 after acquiring an additional 1,834 shares during the period. Rhumbline Advisers grew its holdings in Medallion Financial by 6.7% during the 2nd quarter. Rhumbline Advisers now owns 29,712 shares of the credit services provider’s stock worth $283,000 after acquiring an additional 1,871 shares during the period. Finally, Hsbc Holdings PLC raised its position in shares of Medallion Financial by 9.3% in the 1st quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock worth $209,000 after acquiring an additional 2,052 shares in the last quarter. 40.56% of the stock is owned by institutional investors.

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.