Medallion Financial Corp. (NASDAQ:MFIN) Forecasted to Earn Q3 2024 Earnings of $0.38 Per Share

Medallion Financial Corp. (NASDAQ:MFIN) – Equities researchers at B. Riley issued their Q3 2024 EPS estimates for Medallion Financial in a research note issued on Monday, September 23rd. B. Riley analyst M. Howlett forecasts that the credit services provider will earn $0.38 per share for the quarter. The consensus estimate for Medallion Financial’s current full-year earnings is $1.48 per share. B. Riley also issued estimates for Medallion Financial’s FY2024 earnings at $1.51 EPS.

Separately, StockNews.com cut shares of Medallion Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Medallion Financial Trading Up 0.9 %

Shares of MFIN stock opened at $8.08 on Thursday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. Medallion Financial has a 12-month low of $6.28 and a 12-month high of $10.14. The stock’s 50-day moving average price is $7.90 and its 200-day moving average price is $7.91. The stock has a market capitalization of $188.89 million, a price-to-earnings ratio of 3.81 and a beta of 2.16.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Medallion Financial had a net margin of 14.97% and a return on equity of 10.35%. The company had revenue of $71.80 million for the quarter, compared to the consensus estimate of $50.39 million. During the same period in the prior year, the firm posted $0.62 EPS.

Institutional Trading of Medallion Financial

Several hedge funds have recently made changes to their positions in MFIN. Bank of New York Mellon Corp grew its position in shares of Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock valued at $1,081,000 after buying an additional 52,857 shares during the last quarter. Denali Advisors LLC increased its holdings in Medallion Financial by 100.4% in the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after buying an additional 22,400 shares in the last quarter. Jump Financial LLC acquired a new position in Medallion Financial during the fourth quarter worth $161,000. Ritholtz Wealth Management raised its stake in shares of Medallion Financial by 13.2% during the 2nd quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock worth $320,000 after buying an additional 4,862 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its holdings in shares of Medallion Financial by 3.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock valued at $777,000 after purchasing an additional 3,125 shares in the last quarter. Institutional investors and hedge funds own 40.56% of the company’s stock.

Medallion Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Thursday, August 15th were given a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.40 dividend on an annualized basis and a yield of 4.95%. Medallion Financial’s payout ratio is currently 18.87%.

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.