Medallion Financial (NASDAQ:MFIN) Stock Passes Above 200 Day Moving Average – Here’s Why

Shares of Medallion Financial Corp. (NASDAQ:MFIN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.90 and traded as high as $8.92. Medallion Financial shares last traded at $8.77, with a volume of 38,487 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, February 5th.

Medallion Financial Trading Up 1.8 %

The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18. The business’s 50-day moving average price is $8.80 and its two-hundred day moving average price is $8.91. The company has a market capitalization of $204.61 million, a P/E ratio of 5.25 and a beta of 2.10.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Tuesday, March 4th. The credit services provider reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.10. The firm had revenue of $53.10 million for the quarter, compared to analyst estimates of $53.66 million. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. As a group, analysts forecast that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be issued a dividend of $0.11 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.44 annualized dividend and a yield of 4.96%. Medallion Financial’s dividend payout ratio (DPR) is currently 28.95%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MFIN. Segall Bryant & Hamill LLC acquired a new stake in shares of Medallion Financial during the third quarter worth $1,025,000. Geode Capital Management LLC increased its holdings in Medallion Financial by 2.4% during the 3rd quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock worth $3,394,000 after purchasing an additional 9,849 shares in the last quarter. Stifel Financial Corp raised its stake in shares of Medallion Financial by 4.2% in the 3rd quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock valued at $2,222,000 after purchasing an additional 10,974 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Medallion Financial by 52.3% in the third quarter. BNP Paribas Financial Markets now owns 4,820 shares of the credit services provider’s stock valued at $39,000 after purchasing an additional 1,656 shares in the last quarter. Finally, Ritholtz Wealth Management lifted its holdings in shares of Medallion Financial by 56.3% in the fourth quarter. Ritholtz Wealth Management now owns 57,584 shares of the credit services provider’s stock valued at $541,000 after purchasing an additional 20,747 shares in the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

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.