Manhattan Bridge Capital (NASDAQ:LOAN) Releases Earnings Results, Hits Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) released its quarterly earnings results on Wednesday. The credit services provider reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11, FiscalAI reports. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The firm had revenue of $0.00 million during the quarter, compared to the consensus estimate of $2.04 million.

Manhattan Bridge Capital Stock Down 0.9%

LOAN traded down $0.03 during trading on Wednesday, reaching $3.39. The company’s stock had a trading volume of 9,669 shares, compared to its average volume of 31,126. The firm has a fifty day simple moving average of $3.88 and a two-hundred day simple moving average of $4.18. Manhattan Bridge Capital has a 1 year low of $3.31 and a 1 year high of $5.27. The company has a market cap of $38.73 million, a price-to-earnings ratio of 8.07 and a beta of 0.20.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Stockholders of record on Thursday, October 8th were paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 13.0%. The ex-dividend date of this dividend was Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 104.76%.

Insider Buying and Selling at Manhattan Bridge Capital

In related news, CEO Assaf Ran purchased 8,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was acquired at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the completion of the transaction, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 24.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LOAN shares. Weiss Ratings cut Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Zacks Research raised Manhattan Bridge Capital to a “hold” rating in a report on Monday, October 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.