American International Group Inc. boosted its stake in shares of Marlin Business Services Corp. (NASDAQ:MRLN) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,102 shares of the financial services provider’s stock after buying an additional 339 shares during the period. American International Group Inc.’s holdings in Marlin Business Services Corp. were worth $131,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in MRLN. TFS Capital LLC purchased a new position in shares of Marlin Business Services Corp. during the first quarter valued at about $210,000. Trexquant Investment LP bought a new position in shares of Marlin Business Services Corp. during the first quarter worth $274,000. Oxford Asset Management bought a new position in shares of Marlin Business Services Corp. during the first quarter worth $446,000. Nationwide Fund Advisors increased its position in shares of Marlin Business Services Corp. by 47.2% in the first quarter. Nationwide Fund Advisors now owns 17,345 shares of the financial services provider’s stock worth $447,000 after buying an additional 5,559 shares in the last quarter. Finally, EAM Investors LLC bought a new position in shares of Marlin Business Services Corp. during the first quarter worth $701,000. 77.86% of the stock is owned by hedge funds and other institutional investors.
Shares of Marlin Business Services Corp. (NASDAQ:MRLN) opened at 25.45 on Tuesday. The company has a market capitalization of $311.56 million, a price-to-earnings ratio of 21.16 and a beta of 1.31. The firm’s 50-day moving average is $25.24 and its 200 day moving average is $24.65. Marlin Business Services Corp. has a 52-week low of $17.05 and a 52-week high of $26.70.
Marlin Business Services Corp. announced that its Board of Directors has initiated a share buyback plan on Tuesday, May 30th that permits the company to repurchase $10.00 million in outstanding shares. This repurchase authorization permits the financial services provider to repurchase up to 3.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.20%. This is a boost from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, August 3rd. Marlin Business Services Corp.’s payout ratio is presently 46.28%.
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Several equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Marlin Business Services Corp. from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research upgraded shares of Marlin Business Services Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a report on Thursday, August 3rd. Finally, BidaskClub upgraded shares of Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.50.
Marlin Business Services Corp. Company Profile
Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.
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