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

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) declared a quarterly dividend on Thursday, July 24th, Wall Street Journal reports. Investors of record on Friday, August 15th will be given a dividend of 0.12 per share by the credit services provider on Friday, August 29th. This represents a c) dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, August 15th.

Medallion Financial has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities 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 down $0.07 during mid-day trading on Friday, reaching $10.14. 67,640 shares of the company's stock were exchanged, compared to its average volume of 53,741. Medallion Financial has a one year low of $7.21 and a one year high of $10.75. The firm has a market capitalization of $235.61 million, a PE ratio of 5.76 and a beta of 1.33. The business's fifty day simple moving average is $9.53 and its two-hundred day simple moving average is $9.05. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.12 and a current ratio of 1.18.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The credit services provider reported $0.46 EPS for the quarter, topping 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 business had revenue of $53.37 million for the quarter, compared to analyst estimates of $52.07 million. Analysts anticipate that Medallion Financial will post 1.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC grew its holdings in shares of Medallion Financial by 62.0% during the 4th quarter. MetLife Investment Management LLC now owns 9,018 shares of the credit services provider's stock valued at $85,000 after purchasing an additional 3,452 shares during the last quarter. Deutsche Bank AG acquired a new stake in Medallion Financial during the 4th quarter worth approximately $92,000. Baron Wealth Management LLC acquired a new stake in Medallion Financial during the 2nd quarter worth approximately $103,000. D Orazio & Associates Inc. acquired a new stake in Medallion Financial during the 1st quarter worth approximately $95,000. Finally, Wells Fargo & Company MN boosted its position in Medallion Financial by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock worth $108,000 after buying an additional 2,256 shares during the period. 40.56% of the stock is owned by institutional investors.

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.