50,000 Shares in Manhattan Bridge Capital, Inc (NASDAQ:LOAN) Purchased by Chicago Partners Investment Group LLC

Key Points

• Chicago Partners Investment Group LLC acquired 50,000 shares of Manhattan Bridge Capital, Inc, valued at approximately $296,000, increasing their ownership to about 0.44% of the company.
• Manhattan Bridge Capital announced a quarterly dividend of $0.115 per share, representing an annualized yield of 8.5%, with a payout ratio of 97.87%.
• Analyst ratings for Manhattan Bridge Capital are optimistic, with Wall Street Zen giving it a "strong-buy" rating following recent coverage initiation.

Chicago Partners Investment Group LLC acquired a new stake in shares of Manhattan Bridge Capital, Inc (NASDAQ:LOAN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 50,000 shares of the credit services provider's stock, valued at approximately $296,000. Chicago Partners Investment Group LLC owned approximately 0.44% of Manhattan Bridge Capital as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in LOAN. LPL Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $169,000. Advisory Services Network LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $97,000. NewEdge Advisors LLC grew its position in shares of Manhattan Bridge Capital by 28.4% during the fourth quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider's stock valued at $157,000 after purchasing an additional 6,215 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $1,684,000. Finally, Gen Wealth Partners Inc grew its position in shares of Manhattan Bridge Capital by 5.1% during the fourth quarter. Gen Wealth Partners Inc now owns 38,740 shares of the credit services provider's stock valued at $217,000 after purchasing an additional 1,896 shares in the last quarter. Hedge funds and other institutional investors own 21.84% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen assumed coverage on Manhattan Bridge Capital in a research report on Sunday, May 18th. They set a "strong-buy" rating for the company.

Manhattan Bridge Capital Stock Down 1.1%

LOAN traded down $0.06 on Friday, hitting $5.38. The company had a trading volume of 18,519 shares, compared to its average volume of 20,113. The company has a market cap of $61.54 million, a PE ratio of 11.45 and a beta of 0.34. Manhattan Bridge Capital, Inc has a 12-month low of $4.74 and a 12-month high of $6.05. The business's fifty day simple moving average is $5.41 and its 200 day simple moving average is $5.40.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The credit services provider reported $0.12 EPS for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $2.36 million during the quarter. Manhattan Bridge Capital had a return on equity of 12.68% and a net margin of 59.04%.

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Wednesday, October 8th will be given a $0.115 dividend. The ex-dividend date is Wednesday, October 8th. This represents a $0.46 annualized dividend and a yield of 8.6%. Manhattan Bridge Capital's dividend payout ratio (DPR) is currently 97.87%.

Manhattan Bridge Capital Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.