Beese Fulmer Investment Management Inc. Reduces Holdings in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)

Beese Fulmer Investment Management Inc. reduced its position in Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) by 15.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 120,796 shares of the credit services provider’s stock after selling 21,801 shares during the period. Beese Fulmer Investment Management Inc. owned about 1.06% of Manhattan Bridge Capital worth $714,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Atria Wealth Solutions Inc. boosted its position in shares of Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after acquiring an additional 3,324 shares during the last quarter. Avant Financial Advisors LLC purchased a new position in Manhattan Bridge Capital during the fourth quarter worth approximately $1,626,000. Cary Street Partners Financial LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at $1,684,000. Fortress Financial Solutions LLC acquired a new position in shares of Manhattan Bridge Capital in the 4th quarter valued at $685,000. Finally, Hardy Reed LLC increased its holdings in shares of Manhattan Bridge Capital by 7.8% during the 4th quarter. Hardy Reed LLC now owns 370,499 shares of the credit services provider’s stock worth $2,075,000 after buying an additional 26,733 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Trading Up 0.6%

LOAN stock opened at $5.21 on Friday. The stock has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $5.45. Manhattan Bridge Capital, Inc. has a 12-month low of $4.74 and a 12-month high of $6.05. The company has a market cap of $59.60 million, a PE ratio of 10.63 and a beta of 0.33.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly 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. The firm had revenue of $2.27 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Tuesday, July 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, July 8th. This represents a $0.46 annualized dividend and a dividend yield of 8.83%. Manhattan Bridge Capital’s payout ratio is 97.87%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen assumed coverage on Manhattan Bridge Capital in a report on Sunday, May 18th. They issued a “strong-buy” rating on the stock.

Manhattan Bridge Capital 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.