Manhattan Bridge Capital (NASDAQ:LOAN) Issues Earnings Results, Hits Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) posted its quarterly earnings results on Wednesday. The credit services provider reported $0.11 EPS for the quarter, meeting analysts’ consensus estimates of $0.11, FiscalAI reports. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.05 million. Manhattan Bridge Capital had a net margin of 58.61% and a return on equity of 11.12%.

Manhattan Bridge Capital Trading Up 2.9%

NASDAQ:LOAN opened at $3.49 on Friday. The company has a 50-day moving average price of $3.86 and a 200-day moving average price of $4.16. Manhattan Bridge Capital has a 12 month low of $3.31 and a 12 month high of $5.27. The stock has a market cap of $39.89 million, a price-to-earnings ratio of 8.31 and a beta of 0.20.

Manhattan Bridge Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Shareholders of record on Thursday, December 31st will be issued a $0.1050 dividend. This is a drop from Manhattan Bridge Capital’s previous quarterly dividend of $0.11. The ex-dividend date is Thursday, December 31st. This represents a $0.42 annualized dividend and a yield of 12.0%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 104.76%.

Insider Buying and Selling

In other news, CEO Assaf Ran acquired 10,000 shares of the business’s stock in a transaction on Thursday, October 22nd. The shares were acquired at an average cost of $3.47 per share, with a total value of $34,700.00. Following the transaction, the chief executive officer owned 1,245,000 shares in the company, valued at $4,320,150. The trade was a 0.81% increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 24.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LOAN has been the subject of several recent analyst reports. Zacks Research raised shares of Manhattan Bridge Capital to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings cut Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce”.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.