Medallion Financial Corp. (NASDAQ:MFIN) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Medallion Financial Corp. (NASDAQ:MFIN) by 2.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 416,956 shares of the credit services provider’s stock after acquiring an additional 9,849 shares during the quarter. Geode Capital Management LLC’s holdings in Medallion Financial were worth $3,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Segall Bryant & Hamill LLC acquired a new position in Medallion Financial in the third quarter worth $1,025,000. Bank of New York Mellon Corp boosted its holdings 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 period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Medallion Financial by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock valued at $1,738,000 after buying an additional 51,941 shares during the last quarter. American Century Companies Inc. raised its stake in Medallion Financial by 30.6% during the second quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after acquiring an additional 43,917 shares during the period. Finally, Rhumbline Advisers lifted its holdings 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 worth $186,000 after acquiring an additional 23,180 shares during the last quarter. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Price Performance

Shares of NASDAQ MFIN opened at $9.37 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $216.15 million, a PE ratio of 5.54 and a beta of 2.09. Medallion Financial Corp. has a 1-year low of $6.48 and a 1-year high of $10.50. The business’s fifty day moving average price is $9.61 and its two-hundred day moving average price is $8.59.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $77.00 million for the quarter, compared to analysts’ expectations of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same quarter last year, the company earned $0.48 EPS. On average, research analysts expect that Medallion Financial Corp. will post 1.48 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 15th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 4.70%. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, November 15th. Medallion Financial’s dividend payout ratio is 26.04%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday.

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.