Medallion Financial (NASDAQ:MFIN) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Medallion Financial Corp. (NASDAQ:MFIN)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.93 and traded as high as $8.14. Medallion Financial shares last traded at $8.02, with a volume of 53,498 shares trading hands.

Analyst Ratings Changes

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 Stock Performance

The stock’s 50 day moving average is $7.88 and its two-hundred day moving average is $7.93. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $187.48 million, a price-to-earnings ratio of 3.78 and a beta of 2.14.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, July 30th. The credit services provider reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.03). Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. The business had revenue of $71.80 million for the quarter, compared to analyst estimates of $50.39 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. Analysts expect that Medallion Financial Corp. will post 1.49 earnings per share for the current fiscal year.

Medallion Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.40 annualized dividend and a yield of 4.99%. Medallion Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Investors Weigh In On Medallion Financial

Several hedge funds have recently bought and sold shares of MFIN. Panagora Asset Management Inc. bought a new position in Medallion Financial in the 2nd quarter valued at about $462,000. Bank of New York Mellon Corp increased its holdings in shares of Medallion Financial by 60.1% during the second quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after purchasing an additional 52,857 shares during the period. American Century Companies Inc. increased its stake in Medallion Financial by 30.6% in the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock valued at $1,439,000 after acquiring an additional 43,917 shares during the last quarter. Rhumbline Advisers increased its stake in Medallion Financial by 2,306.5% in the second quarter. Rhumbline Advisers now owns 24,185 shares of the credit services provider’s stock valued at $186,000 after acquiring an additional 23,180 shares during the last quarter. Finally, Denali Advisors LLC increased its stake 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 acquiring an additional 22,400 shares during the last quarter. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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.