Medallion Financial (NASDAQ:MFIN) Stock Keeps Neutral Rating at Piper Sandler

Piper Sandler reaffirmed their neutral rating on shares of Medallion Financial (NASDAQ:MFIN) in a research report released on Wednesday,Benzinga reports. The firm currently has a $10.00 target price on the credit services provider’s stock, down from their prior target price of $12.00.

Several other research firms have also commented on MFIN. Zacks Research cut shares of Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 5th. Northland Securities set a $13.25 target price on shares of Medallion Financial in a research note on Wednesday, October 14th. Ladenburg Thalmann & Co. Inc. lowered shares of Medallion Financial from a “buy” rating to a “neutral” rating in a report on Friday, October 30th. Weiss Ratings lowered shares of Medallion Financial from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, November 4th. Finally, UBS Group reaffirmed a “neutral” rating on shares of Medallion Financial in a research report on Friday, October 2nd. Five analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Medallion Financial currently has an average rating of “Reduce” and an average target price of $11.62.

Medallion Financial Price Performance

MFIN opened at $9.19 on Wednesday. The business’s 50-day moving average is $11.41 and its two-hundred day moving average is $10.27. Medallion Financial has a 1 year low of $7.85 and a 1 year high of $12.26. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.23 and a quick ratio of 1.22. The firm has a market capitalization of $206.13 million, a PE ratio of 8.49 and a beta of 0.80.

Medallion Financial (NASDAQ:MFIN) last announced its earnings results on Thursday, October 29th. The credit services provider reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). Medallion Financial had a return on equity of 5.21% and a net margin of 7.53%. The firm had revenue of $88.89 million during the quarter, compared to the consensus estimate of $63.54 million. Research analysts anticipate that Medallion Financial will post 0.90 earnings per share for the current fiscal year.

Medallion Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, November 9th. Medallion Financial’s dividend payout ratio (DPR) is presently 50.45%.

Institutional Trading of Medallion Financial

A number of institutional investors have recently bought and sold shares of the stock. Hsbc Holdings PLC grew its position in Medallion Financial by 9.3% during the 1st quarter. Hsbc Holdings PLC now owns 24,043 shares of the credit services provider’s stock worth $209,000 after purchasing an additional 2,052 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Medallion Financial by 24.0% in the third quarter. Russell Investments Group Ltd. now owns 15,136 shares of the credit services provider’s stock worth $180,000 after buying an additional 2,930 shares during the last quarter. Soltis Investment Advisors LLC raised its holdings in shares of Medallion Financial by 8.5% in the third quarter. Soltis Investment Advisors LLC now owns 49,680 shares of the credit services provider’s stock worth $591,000 after buying an additional 3,913 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Medallion Financial by 10.8% in the first quarter. Empowered Funds LLC now owns 56,690 shares of the credit services provider’s stock worth $485,000 after buying an additional 5,510 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of 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 during the period. 40.56% of the stock is currently owned by institutional investors and hedge funds.

Medallion Financial Company Profile

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.