Manhattan Bridge Capital (NASDAQ:LOAN) Posts Quarterly Earnings Results, Hits Estimates

Key Points

• EPS matched consensus: Manhattan Bridge Capital reported $0.10 EPS for the quarter, hitting estimates, but reported revenue of $0.00M versus analysts' $2.11M, indicating a sizable revenue shortfall.
• The company announced a quarterly dividend of $0.11 (annualized $0.44), representing a 9.9% yield with a 100% payout ratio, which raises questions about dividend sustainability.
• Shares traded up 2.3% to $4.45 (market cap about $50.9M, P/E 9.67), and Weiss Ratings reiterated a "Hold" on the stock.

Manhattan Bridge Capital (NASDAQ:LOAN - Get Free Report) posted its earnings results on Friday. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10, FiscalAI reports. The company had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.11 million. Manhattan Bridge Capital had a return on equity of 12.22% and a net margin of 58.67%.

Manhattan Bridge Capital Trading Up 2.3%

LOAN stock traded up $0.10 during trading hours on Friday, hitting $4.45. 14,213 shares of the stock were exchanged, compared to its average volume of 24,448. Manhattan Bridge Capital has a 12 month low of $4.13 and a 12 month high of $6.05. The firm has a market capitalization of $50.91 million, a P/E ratio of 9.67 and a beta of 0.25. The company has a 50-day simple moving average of $4.43 and a two-hundred day simple moving average of $4.79.

Manhattan Bridge Capital Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Wednesday, April 8th will be given a $0.11 dividend. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a $0.44 annualized dividend and a dividend yield of 9.9%. Manhattan Bridge Capital's dividend payout ratio is presently 100.00%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Manhattan Bridge Capital in a research note on Monday, December 29th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Manhattan Bridge Capital currently has an average rating of "Hold".

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors and hedge funds have recently bought and sold shares of the company. Osaic Holdings Inc. increased its holdings in Manhattan Bridge Capital by 140.7% in the 2nd quarter. Osaic Holdings Inc. now owns 5,632 shares of the credit services provider's stock worth $31,000 after purchasing an additional 3,292 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Manhattan Bridge Capital by 2.5% during the third quarter. Vanguard Group Inc. now owns 383,385 shares of the credit services provider's stock worth $2,116,000 after purchasing an additional 9,330 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of Manhattan Bridge Capital during the third quarter worth about $149,000. Mercer Global Advisors Inc. ADV increased its stake in shares of Manhattan Bridge Capital by 28.8% in the third quarter. Mercer Global Advisors Inc. ADV now owns 363,572 shares of the credit services provider's stock valued at $1,996,000 after buying an additional 81,220 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Manhattan Bridge Capital by 2.8% in the fourth quarter. Geode Capital Management LLC now owns 112,087 shares of the credit services provider's stock valued at $521,000 after buying an additional 3,046 shares during the period. Institutional investors own 21.84% of the company's stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc NASDAQ: LOAN is a publicly traded business development company (BDC) that specializes in providing financing solutions to small and medium-sized businesses across the United States. The firm structures short-term bridge loans, senior secured debt and mezzanine debt facilities to support clients' growth initiatives, working capital needs and acquisition financing requirements. Its investment approach is designed to deliver flexible, asset-backed financing tailored to the unique cash-flow profiles of its portfolio companies.

Operating primarily from its New York headquarters, Manhattan Bridge Capital partners with businesses in a variety of sectors, including business services, consumer products, healthcare and industrial manufacturing.

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