Medallion Financial (NASDAQ:MFIN) Shares Pass Above 200 Day Moving Average - Should You Sell?

Key Points

• Medallion Financial's share price recently crossed above its 200-day moving average, trading at $10.15, which is higher than its average of $9.16.
• The company reported $0.46 earnings per share for the last quarter, exceeding analysts' expectations of $0.30, and has a market cap of approximately $236 million.
• Medallion Financial declared a quarterly dividend of $0.12, reflecting a yield of 4.7%, payable on August 29th, 2023.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.16 and traded as high as $10.25. Medallion Financial shares last traded at $10.15, with a volume of 49,309 shares.

Wall Street Analysts Forecast Growth

MFIN has been the topic of a number of analyst reports. Wall Street Zen downgraded Medallion Financial from a "strong-buy" rating to a "buy" rating in a research report on Monday, August 11th. LADENBURG THALM/SH SH raised Medallion Financial from a "neutral" rating to a "buy" rating and set a $12.00 price target on the stock in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Medallion Financial currently has an average rating of "Buy" and a consensus price target of $12.00.

Medallion Financial Stock Performance

The stock has a fifty day simple moving average of $9.89 and a two-hundred day simple moving average of $9.20. The stock has a market cap of $244.36 million, a price-to-earnings ratio of 5.97 and a beta of 1.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.17 and a current ratio of 1.20.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last issued its earnings results on Wednesday, July 30th. The credit services provider reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.16. The firm had revenue of $53.37 million for the quarter, compared to the consensus estimate of $52.07 million. Medallion Financial had a return on equity of 9.04% and a net margin of 12.62%. Analysts expect that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, August 15th. Medallion Financial's dividend payout ratio (DPR) is currently 27.27%.

Institutional Investors Weigh In On Medallion Financial

Large investors have recently modified their holdings of the business. Tower Research Capital LLC TRC boosted its holdings in shares of Medallion Financial by 533.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,280 shares of the credit services provider's stock valued at $60,000 after purchasing an additional 5,288 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Medallion Financial by 62.0% in 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 in the last quarter. Deutsche Bank AG acquired a new stake in shares of Medallion Financial in the 4th quarter valued at $92,000. D Orazio & Associates Inc. bought a new position in shares of Medallion Financial in the 1st quarter valued at $95,000. Finally, Baron Wealth Management LLC bought a new position in shares of Medallion Financial in the 2nd quarter valued at $103,000. Institutional investors and hedge funds 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.