Medallion Financial Corp. (NASDAQ:MFIN) Plans $0.12 Quarterly Dividend

Key Points

• Medallion Financial Corp. will issue a quarterly dividend of $0.12 per share, with shareholders of record on August 15th receiving payment on August 29th, reflecting an annualized yield of 4.7%.
• The company has a dividend payout ratio of 29.4%, indicating strong coverage of its dividend by earnings, as analysts project earnings of $1.61 per share next year.
• Stock performance shows Medallion Financial trading at $10.21 with a market cap of $237.28 million, and recent analyst ratings have ranged from "buy" to "neutral" with price targets as high as $12.00.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) announced a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Stockholders of record on Friday, August 15th will be paid a dividend of 0.12 per share by the credit services provider on Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Friday, August 15th.

Medallion Financial has a dividend payout ratio of 29.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Medallion Financial to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 29.8%.

Medallion Financial Stock Performance

NASDAQ:MFIN traded up $0.57 during mid-day trading on Monday, reaching $10.71. The stock had a trading volume of 97,713 shares, compared to its average volume of 49,365. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.18. The firm has a market capitalization of $248.92 million, a price-to-earnings ratio of 6.08 and a beta of 1.28. Medallion Financial has a twelve month low of $7.21 and a twelve month high of $10.86. The business has a 50 day simple moving average of $9.53 and a 200 day simple moving average of $9.05.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The credit services provider reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.16. Medallion Financial had a net margin of 12.62% and a return on equity of 9.51%. The firm had revenue of $53.37 million during the quarter, compared to the consensus estimate of $52.07 million. On average, analysts expect that Medallion Financial will post 1.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on MFIN shares. LADENBURG THALM/SH SH raised shares of Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 price objective for the company in a research note on Thursday. Wall Street Zen raised shares of Medallion Financial from a "buy" rating to a "strong-buy" rating in a research note on Sunday.

Medallion Financial Company Profile

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.