Medallion Financial (NASDAQ:MFIN) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Medallion Financial has been upgraded from a "buy" to a "strong-buy" rating by Wall Street Zen, signaling increased investor confidence.
• Separately, LADENBURG THALM/SH SH set a price objective of $12.00 for Medallion Financial's shares after upgrading their rating from "neutral" to "buy."
• The company's quarterly earnings report revealed an EPS of $0.46, exceeding analysts' expectations by $0.16, with revenue reaching $53.37 million.

Medallion Financial (NASDAQ:MFIN - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a research note issued on Sunday.

Separately, LADENBURG THALM/SH SH upgraded shares of Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 target price on the stock in a research report on Thursday, July 31st.

Medallion Financial Price Performance

MFIN stock traded up $0.16 during midday trading on Friday, reaching $10.53. 21,904 shares of the company's stock traded hands, compared to its average volume of 50,225. The company has a 50-day simple moving average of $9.57 and a two-hundred day simple moving average of $9.07. The company has a quick ratio of 1.12, a current ratio of 1.18 and a debt-to-equity ratio of 0.44. Medallion Financial has a 1-year low of $7.39 and a 1-year high of $10.98. The company has a market cap of $244.60 million, a price-to-earnings ratio of 5.98 and a beta of 1.28.

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

Institutional Inflows and Outflows

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

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.