Manhattan Bridge Capital, Inc Declares Quarterly Dividend of $0.11 (NASDAQ:LOAN)

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) announced a quarterly dividend on Tuesday, July 28th. Investors of record on Thursday, October 8th will be paid a dividend of 0.11 per share by the credit services provider on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Thursday, October 8th.

Manhattan Bridge Capital has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Manhattan Bridge Capital has a payout ratio of 91.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

Manhattan Bridge Capital Price Performance

NASDAQ LOAN traded up $0.26 on Tuesday, reaching $4.17. The company had a trading volume of 94,728 shares, compared to its average volume of 30,459. The firm has a market capitalization of $47.66 million, a PE ratio of 9.93 and a beta of 0.14. Manhattan Bridge Capital has a 1 year low of $3.90 and a 1 year high of $5.80. The firm has a 50-day moving average of $4.32 and a 200-day moving average of $4.40.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Thursday, July 23rd. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.01). The firm had revenue of $0.00 million for the quarter, compared to analysts’ expectations of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%.

Insider Transactions at Manhattan Bridge Capital

In other Manhattan Bridge Capital news, CEO Assaf Ran acquired 8,000 shares of the company’s stock in a transaction on Tuesday, July 28th. The shares were bought at an average cost of $3.99 per share, for a total transaction of $31,920.00. Following the acquisition, the chief executive officer directly owned 1,235,000 shares of the company’s stock, valued at $4,927,650. This trade represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 24.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in shares of Manhattan Bridge Capital by 140.7% during the second quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider’s stock worth $31,000 after buying an additional 3,292 shares in the last quarter. Bridgeway Capital Management LLC raised its holdings in Manhattan Bridge Capital by 28.3% in the fourth quarter. Bridgeway Capital Management LLC now owns 19,516 shares of the credit services provider’s stock valued at $91,000 after acquiring an additional 4,300 shares in the last quarter. Rothschild Wealth LLC acquired a new stake in Manhattan Bridge Capital in the fourth quarter valued at $118,000. Kestra Advisory Services LLC boosted its stake in Manhattan Bridge Capital by 94.2% during the 4th quarter. Kestra Advisory Services LLC now owns 25,877 shares of the credit services provider’s stock valued at $120,000 after acquiring an additional 12,553 shares during the last quarter. Finally, International Assets Investment Management LLC boosted its stake in Manhattan Bridge Capital by 8.8% during the 4th quarter. International Assets Investment Management LLC now owns 29,595 shares of the credit services provider’s stock valued at $138,000 after acquiring an additional 2,384 shares during the last quarter. 21.84% of the stock is currently owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ: LOAN) is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients’ growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.