Piper Sandler Reaffirms "Neutral" Rating for Medallion Financial (NASDAQ:MFIN)

Key Points

• Piper Sandler reiterated its “Neutral” rating on Medallion Financial but cut its price target from $12 to $10, implying 6.83% upside from the prior close.
• Analyst sentiment is mixed but leans cautious: MarketBeat reports a consensus “Reduce” rating and an average price target of $11.62, with five Hold ratings and one Sell rating.
• Medallion Financial reported quarterly EPS of $0.10, missing the $0.32 consensus estimate by $0.22, despite revenue of $88.89 million exceeding estimates of $63.54 million.

Medallion Financial (NASDAQ:MFIN - Get Free Report)'s stock had its "neutral" rating reissued by investment analysts at Piper Sandler in a note issued to investors on Wednesday, Benzinga reports. They currently have a $10.00 price objective on the credit services provider's stock, down from their prior price objective of $12.00. Piper Sandler's target price indicates a potential upside of 6.83% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. UBS Group restated a "neutral" rating on shares of Medallion Financial in a research note on Friday, October 2nd. Zacks Research downgraded Medallion Financial from a "strong-buy" rating to a "strong sell" rating in a research report on Monday, October 5th. Weiss Ratings downgraded Medallion Financial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday, November 4th. LADENBURG THALM/SH SH lowered Medallion Financial from a "buy" rating to a "neutral" rating in a report on Friday, October 30th. Finally, Northland Securities set a $13.25 target price on Medallion Financial in a research report on Wednesday, October 14th. Five equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $11.62.

Medallion Financial Stock Performance

Shares of MFIN opened at $9.36 on Wednesday. The firm has a fifty day moving average of $11.46 and a 200-day moving average of $10.28. The company has a market cap of $209.97 million, a price-to-earnings ratio of 8.49 and a beta of 0.80. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.22 and a current ratio of 1.23. Medallion Financial has a 1 year low of $7.85 and a 1 year high of $12.26.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.22). The firm had revenue of $88.89 million during the quarter, compared to analyst estimates of $63.54 million. Medallion Financial had a return on equity of 5.21% and a net margin of 7.53%. As a group, equities analysts anticipate that Medallion Financial will post 0.90 earnings per share for the current year.

Hedge Funds Weigh In On Medallion Financial

Several large investors have recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Medallion Financial in the 2nd quarter worth approximately $12,450,000. Tieton Capital Management LLC bought a new position in shares of Medallion Financial in the second quarter valued at approximately $10,297,000. Sei Investments Co. increased its stake in shares of Medallion Financial by 124.0% during the first quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider's stock valued at $4,203,000 after acquiring an additional 271,789 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Medallion Financial during the second quarter valued at approximately $2,057,000. Finally, De Lisle Partners LLP bought a new stake in Medallion Financial during the second quarter worth approximately $2,027,000. 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.

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