Medallion Financial (NASDAQ:MFIN) Stock Rating Upgraded by Wall Street Zen

Wall Street Zen upgraded shares of Medallion Financial (NASDAQ:MFIN - Free Report) from a buy rating to a strong-buy rating in a research note released on Friday morning.

Medallion Financial Stock Up 0.4%

Shares of NASDAQ MFIN traded up $0.04 during midday trading on Friday, reaching $9.65. 28,794 shares of the company's stock traded hands, compared to its average volume of 67,355. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The stock's 50 day simple moving average is $8.98 and its 200-day simple moving average is $9.04. Medallion Financial has a one year low of $6.48 and a one year high of $10.50. The company has a market cap of $224.23 million, a price-to-earnings ratio of 5.71 and a beta of 1.35.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.18. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The firm had revenue of $75.43 million for the quarter, compared to the consensus estimate of $51.73 million. On average, analysts predict that Medallion Financial will post 1.46 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were given a dividend of $0.12 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.48 dividend on an annualized basis and a yield of 4.97%. This is an increase from Medallion Financial's previous quarterly dividend of $0.11. Medallion Financial's dividend payout ratio (DPR) is presently 30.00%.

Institutional Investors Weigh In On Medallion Financial

Institutional investors have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC boosted its position in Medallion Financial by 62.0% during the fourth 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 in the last quarter. Deutsche Bank AG acquired a new stake in Medallion Financial in the fourth quarter worth about $92,000. D Orazio & Associates Inc. acquired a new stake in Medallion Financial in the first quarter worth about $95,000. Wells Fargo & Company MN boosted its holdings in Medallion Financial by 24.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock worth $108,000 after acquiring an additional 2,256 shares in the last quarter. Finally, Mariner LLC acquired a new stake in Medallion Financial in the fourth quarter worth about $112,000. Institutional investors own 40.56% of the company's stock.

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.