Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report released on Wednesday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.53 on Wednesday. The firm has a market cap of $63.26 million, a P/E ratio of 11.29 and a beta of 0.57. Manhattan Bridge Capital has a 1 year low of $4.60 and a 1 year high of $5.90. The stock has a 50-day simple moving average of $5.43 and a 200-day simple moving average of $5.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%.

Manhattan Bridge Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.115 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.46 dividend on an annualized basis and a yield of 8.32%. Manhattan Bridge Capital’s dividend payout ratio is currently 93.88%.

Institutional Trading of Manhattan Bridge Capital

Several large investors have recently modified their holdings of the business. Soltis Investment Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the third quarter worth about $14,758,000. Geode Capital Management LLC grew its stake in Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its holdings in Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Manhattan Bridge Capital by 441.5% in the 3rd quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in shares of Manhattan Bridge Capital by 35.7% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.