Q2 2024 EPS Estimates for Medallion Financial Corp. Increased by Northland Capmk (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Northland Capmk raised their Q2 2024 earnings per share estimates for Medallion Financial in a research report issued on Thursday, May 2nd. Northland Capmk analyst M. Grondahl now forecasts that the credit services provider will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Medallion Financial’s Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.45 EPS.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). Medallion Financial had a net margin of 17.96% and a return on equity of 12.47%. The company had revenue of $52.01 million for the quarter, compared to analysts’ expectations of $54.89 million.

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st.

Medallion Financial Stock Performance

MFIN opened at $7.97 on Monday. The company has a 50 day simple moving average of $7.87 and a two-hundred day simple moving average of $8.72. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a market cap of $186.34 million, a P/E ratio of 3.76 and a beta of 2.08. Medallion Financial has a 1-year low of $5.75 and a 1-year high of $10.49.

Medallion Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Wednesday, May 15th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.40 annualized dividend and a yield of 5.02%. Medallion Financial’s payout ratio is 18.87%.

Institutional Investors Weigh In On Medallion Financial

Institutional investors have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its position in shares of Medallion Financial by 1.3% during the third quarter. Janney Montgomery Scott LLC now owns 94,804 shares of the credit services provider’s stock worth $666,000 after acquiring an additional 1,213 shares during the last quarter. LSV Asset Management grew its position in shares of Medallion Financial by 2.5% during the third quarter. LSV Asset Management now owns 81,400 shares of the credit services provider’s stock valued at $571,000 after purchasing an additional 2,000 shares in the last quarter. Corton Capital Inc. increased its holdings in shares of Medallion Financial by 10.8% in the third quarter. Corton Capital Inc. now owns 26,100 shares of the credit services provider’s stock worth $183,000 after purchasing an additional 2,543 shares during the last quarter. Ritholtz Wealth Management lifted its position in shares of Medallion Financial by 12.4% in the fourth quarter. Ritholtz Wealth Management now owns 37,663 shares of the credit services provider’s stock worth $371,000 after buying an additional 4,144 shares in the last quarter. Finally, Barclays PLC bought a new position in Medallion Financial during the third quarter valued at approximately $57,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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.