Uniplan Investment Counsel Inc. Purchases New Stake in Medallion Financial Corp. $MFIN

Key Points

• Uniplan Investment Counsel Inc. purchased 55,398 shares of Medallion Financial Corp. for approximately $483,000, representing a 0.24% ownership stake in the company.
• Medallion Financial reported a quarterly EPS of $0.46, exceeding analysts' expectations of $0.30, along with revenue of $53.37 million.
• The company's recent quarterly dividend was set at $0.12, resulting in an annual yield of 4.5% and a dividend payout ratio of 27.27%.

Uniplan Investment Counsel Inc. acquired a new position in shares of Medallion Financial Corp. (NASDAQ:MFIN - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 55,398 shares of the credit services provider's stock, valued at approximately $483,000. Uniplan Investment Counsel Inc. owned about 0.24% of Medallion Financial as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its holdings in shares of Medallion Financial by 1.0% in the 1st quarter. Bank of New York Mellon Corp now owns 126,625 shares of the credit services provider's stock valued at $1,103,000 after purchasing an additional 1,258 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Medallion Financial by 24.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock valued at $108,000 after purchasing an additional 2,256 shares in the last quarter. MetLife Investment Management LLC increased its holdings in shares of Medallion Financial by 25.4% in the 1st quarter. MetLife Investment Management LLC now owns 11,311 shares of the credit services provider's stock valued at $99,000 after purchasing an additional 2,293 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Medallion Financial by 11.5% in the 4th quarter. Bank of America Corp DE now owns 29,644 shares of the credit services provider's stock valued at $278,000 after purchasing an additional 3,057 shares in the last quarter. Finally, Barclays PLC increased its holdings in shares of Medallion Financial by 16.1% in the 4th quarter. Barclays PLC now owns 30,247 shares of the credit services provider's stock valued at $284,000 after purchasing an additional 4,184 shares in the last quarter. Hedge funds and other institutional investors own 40.56% of the company's stock.

Medallion Financial Price Performance

Shares of Medallion Financial stock traded down $0.19 during trading on Friday, hitting $10.49. 23,444 shares of the company were exchanged, compared to its average volume of 37,375. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 0.38. Medallion Financial Corp. has a fifty-two week low of $7.47 and a fifty-two week high of $10.98. The stock has a market capitalization of $243.89 million, a price-to-earnings ratio of 5.96 and a beta of 1.42. The firm has a 50 day moving average price of $10.16 and a 200 day moving average price of $9.40.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.16. Medallion Financial had a net margin of 12.62% and a return on equity of 9.04%. The company had revenue of $53.37 million for the quarter, compared to analysts' expectations of $52.07 million. On average, equities analysts expect that Medallion Financial Corp. will post 1.46 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.48 annualized dividend and a dividend yield of 4.6%. Medallion Financial's dividend payout ratio (DPR) is currently 27.27%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on MFIN shares. Wall Street Zen downgraded shares of Medallion Financial from a "strong-buy" rating to a "buy" rating in a report on Monday, August 11th. LADENBURG THALM/SH SH upgraded shares of Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 price target for the company in a report on Thursday, July 31st. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Medallion Financial presently has a consensus rating of "Buy" and a consensus price target of $12.00.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.