Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

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

Manhattan Bridge Capital Price Performance

NASDAQ LOAN opened at $5.15 on Thursday. The firm has a market capitalization of $58.91 million, a price-to-earnings ratio of 10.51 and a beta of 0.26. The company has a 50 day simple moving average of $5.49 and a 200-day simple moving average of $5.50. Manhattan Bridge Capital has a 52-week low of $4.74 and a 52-week high of $6.05.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Thursday, April 24th. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.93% and a return on equity of 13.06%. The company had revenue of $2.27 million during the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 8.93%. The ex-dividend date is Tuesday, July 8th. Manhattan Bridge Capital’s payout ratio is presently 95.83%.

Institutional Trading of Manhattan Bridge Capital

Large investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC bought a new stake in Manhattan Bridge Capital in the fourth quarter worth $97,000. OLIO Financial Planning acquired a new position in shares of Manhattan Bridge Capital during the 4th quarter valued at about $117,000. NewEdge Advisors LLC raised its stake in shares of Manhattan Bridge Capital by 28.4% in the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares in the last quarter. Atria Wealth Solutions Inc. lifted its holdings in Manhattan Bridge Capital by 13.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 3,324 shares during the last quarter. Finally, LPL Financial LLC bought a new stake in Manhattan Bridge Capital during the fourth quarter worth approximately $169,000. 21.84% of the stock is owned by institutional investors.

About Manhattan Bridge Capital

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.