What is Northland Capmk’s Estimate for MFIN FY2024 Earnings?

Medallion Financial Corp. (NASDAQ:MFIN) – Investment analysts at Northland Capmk raised their FY2024 EPS estimates for shares of Medallion Financial in a research report issued to clients and investors on Wednesday, October 30th. Northland Capmk analyst M. Grondahl now forecasts that the credit services provider will earn $1.42 per share for the year, up from their prior forecast of $1.41. The consensus estimate for Medallion Financial’s current full-year earnings is $1.49 per share.

Separately, StockNews.com upgraded Medallion Financial from a “hold” rating to a “buy” rating in a research report on Monday, October 28th.

Medallion Financial Price Performance

Shares of NASDAQ:MFIN opened at $9.28 on Monday. The firm has a market capitalization of $215.01 million, a price-to-earnings ratio of 5.49 and a beta of 2.12. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 1.19. The business’s 50 day simple moving average is $8.30 and its 200-day simple moving average is $8.08. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.14.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.59%. The firm had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. During the same quarter in the previous year, the firm earned $0.48 earnings per share.

Institutional Trading of Medallion Financial

Institutional investors and hedge funds have recently modified their holdings of the business. Ridgewood Investments LLC acquired a new position in shares of Medallion Financial during the 2nd quarter worth approximately $38,000. Fortis Capital Advisors LLC acquired a new position in shares of Medallion Financial in the first quarter worth $169,000. Rhumbline Advisers lifted its position in shares of 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 in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Medallion Financial by 13.2% during the second quarter. Ritholtz Wealth Management now owns 41,664 shares of the credit services provider’s stock valued at $320,000 after acquiring an additional 4,862 shares during the last quarter. Finally, Panagora Asset Management Inc. purchased a new stake in Medallion Financial during the 2nd quarter worth about $462,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

Medallion Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.11 per share. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. This represents a $0.44 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, November 15th. Medallion Financial’s dividend payout ratio (DPR) is 26.04%.

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.