Medallion Financial Corp. (NASDAQ:MFIN) Receives Consensus Rating of "Hold" from Brokerages

Key Points

• Analysts have a consensus “Hold” rating on Medallion Financial, with four holds and one strong-buy recommendation. The average 12-month price target is $12.00, slightly above the stock’s reported price of $11.86.
• Institutional investors own approximately 40.56% of the company, with BlackRock and Tieton Capital Management among the firms that recently acquired new stakes.
• Medallion Financial exceeded quarterly expectations, reporting $0.31 in EPS versus a $0.29 estimate and $84.38 million in revenue. The company also maintains a quarterly dividend of $0.14, equivalent to a 4.7% annualized yield.

Shares of Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) have been given an average recommendation of "Hold" by the five brokerages that are covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $12.00.

MFIN has been the topic of a number of recent analyst reports. Piper Sandler reissued a "neutral" rating and set a $12.00 price target (up from $10.50) on shares of Medallion Financial in a research report on Friday. Raymond James Financial began coverage on shares of Medallion Financial in a research note on Thursday, July 9th. They issued a "market perform" rating on the stock. Zacks Research raised Medallion Financial from a "hold" rating to a "strong-buy" rating in a research note on Monday. UBS Group restated a "neutral" rating on shares of Medallion Financial in a report on Friday. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Medallion Financial in a report on Tuesday.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MFIN. BlackRock Inc. bought a new stake in shares of Medallion Financial in the 2nd quarter valued at approximately $12,450,000. Tieton Capital Management LLC bought a new stake in Medallion Financial in the 2nd quarter valued at $10,297,000. Sei Investments Co. grew its holdings in shares of Medallion Financial by 124.0% in the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider's stock worth $4,203,000 after purchasing an additional 271,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Medallion Financial during the 2nd quarter worth approximately $2,057,000. Finally, De Lisle Partners LLP acquired a new position in Medallion Financial during the 2nd quarter worth about $2,027,000. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Stock Down 0.5%

Shares of MFIN stock traded down $0.06 on Friday, hitting $11.86. The stock had a trading volume of 26,782 shares, compared to its average volume of 67,318. Medallion Financial has a 52-week low of $7.85 and a 52-week high of $12.26. The firm has a market capitalization of $272.40 million, a price-to-earnings ratio of 8.92 and a beta of 0.79. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The stock's 50 day moving average is $11.46 and its 200-day moving average is $10.15.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, beating analysts' consensus estimates of $0.29 by $0.02. The firm had revenue of $84.38 million for the quarter, compared to the consensus estimate of $58.98 million. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. As a group, research analysts expect that Medallion Financial will post 1.15 earnings per share for the current year.

Medallion Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 31st. Investors of record on Monday, August 17th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Monday, August 17th. Medallion Financial's payout ratio is currently 42.11%.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides financing to individuals and businesses, with a historical focus on loans secured by taxicab medallions and related taxi assets. Through its lending subsidiaries, the company has supported taxi operators and medallion owners in major U.S. metropolitan areas.

In addition to taxi-medallion lending, Medallion Financial has expanded into other consumer and commercial finance activities. Its businesses have included recreational lending for products such as boats and recreational vehicles, as well as financing for home improvements and other consumer purposes.

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