Tieton Capital Management LLC Acquires Shares of 1,008,564 Medallion Financial Corp. $MFIN

Tieton Capital Management LLC acquired a new stake in Medallion Financial Corp. (NASDAQ:MFIN) in the 2nd quarter, HoldingsChannel reports. The fund acquired 1,008,564 shares of the credit services provider’s stock, valued at approximately $10,297,000. Medallion Financial makes up 3.0% of Tieton Capital Management LLC’s investment portfolio, making the stock its 18th largest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets raised its position in Medallion Financial by 45.0% during the third quarter. BNP Paribas Financial Markets now owns 3,708 shares of the credit services provider’s stock valued at $37,000 after acquiring an additional 1,150 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Medallion Financial in the 4th quarter worth approximately $42,000. Tower Research Capital LLC TRC grew its stake in shares of Medallion Financial by 533.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider’s stock worth $60,000 after purchasing an additional 5,288 shares during the period. Osaic Holdings Inc. purchased a new position in shares of Medallion Financial during the 2nd quarter valued at approximately $76,000. Finally, Stephens Inc. AR acquired a new position in shares of Medallion Financial in the 1st quarter valued at $96,000. 40.56% of the stock is owned by institutional investors and hedge funds.

Medallion Financial Price Performance

NASDAQ:MFIN opened at $11.43 on Thursday. Medallion Financial Corp. has a one year low of $7.85 and a one year high of $11.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The stock has a market cap of $262.43 million, a PE ratio of 8.59 and a beta of 0.78. The stock has a 50 day moving average price of $10.21 and a 200 day moving average price of $9.76.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. The company had revenue of $84.38 million for the quarter, compared to the consensus estimate of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. Equities research analysts expect that Medallion Financial Corp. will post 1.15 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend is Monday, August 17th. Medallion Financial’s dividend payout ratio (DPR) is 42.11%.

Analysts Set New Price Targets

MFIN has been the topic of a number of analyst reports. Raymond James Financial began coverage on Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating on the stock. Weiss Ratings raised Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, July 2nd. Zacks Research raised Medallion Financial from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 30th. Finally, Piper Sandler assumed coverage on Medallion Financial in a research report on Friday, June 12th. They set a “neutral” rating and a $10.50 target price on the stock. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

Medallion Financial Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.