Medallion Financial Corp. (NASDAQ:MFIN) to Issue Quarterly Dividend of $0.14

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Thursday, October 29th. Shareholders of record on Monday, November 9th will be paid a dividend of $0.14 per share by the credit services provider on Thursday, November 19th. This represents a $0.56 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, November 9th.

Medallion Financial has a dividend payout ratio of 34.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Medallion Financial to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 40.6%.

Medallion Financial Trading Up 1.4%

MFIN stock opened at $11.68 on Friday. The company has a market cap of $268.17 million, a price-to-earnings ratio of 7.84 and a beta of 0.79. Medallion Financial has a 52 week low of $7.85 and a 52 week high of $12.26. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $11.76 and a 200-day simple moving average of $10.28.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Thursday, October 29th. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22). The firm had revenue of $88.89 million for the quarter, compared to analysts’ expectations of $63.54 million. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%. On average, equities research analysts expect that Medallion Financial will post 1.15 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Soltis Investment Advisors LLC boosted its holdings in Medallion Financial by 8.5% in the 3rd quarter. Soltis Investment Advisors LLC now owns 49,680 shares of the credit services provider’s stock valued at $591,000 after purchasing an additional 3,913 shares during the period. Squarepoint Ops LLC grew its position in Medallion Financial by 14.5% during the second quarter. Squarepoint Ops LLC now owns 78,555 shares of the credit services provider’s stock worth $802,000 after buying an additional 9,968 shares in the last quarter. Hsbc Holdings PLC increased its stake in Medallion Financial by 11.4% during the second quarter. Hsbc Holdings PLC now owns 26,792 shares of the credit services provider’s stock valued at $273,000 after acquiring an additional 2,749 shares during the period. Empowered Funds LLC bought a new position in Medallion Financial during the second quarter valued at about $620,000. Finally, Bank of America Corp DE acquired a new position in Medallion Financial in the 2nd quarter valued at approximately $190,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.