Medallion Financial (NASDAQ:MFIN) Shares Pass Above 200 Day Moving Average - Here's Why

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.02 and traded as high as $9.95. Medallion Financial shares last traded at $9.79, with a volume of 54,808 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Medallion Financial from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 21st.

Medallion Financial Stock Down 0.1%

The firm has a 50-day moving average of $9.31 and a 200 day moving average of $9.01. The stock has a market capitalization of $227.29 million, a price-to-earnings ratio of 6.11 and a beta of 1.33. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.44.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its quarterly earnings results on Wednesday, April 30th. The credit services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.32 by $0.18. The firm had revenue of $75.43 million for the quarter, compared to analyst estimates of $51.73 million. Medallion Financial had a return on equity of 8.70% and a net margin of 11.96%. On average, sell-side analysts anticipate that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 15th. This is an increase from Medallion Financial's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 4.91%. Medallion Financial's payout ratio is currently 30.00%.

Institutional Investors Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently bought and sold shares of the business. MetLife Investment Management LLC increased its holdings in 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 worth $85,000 after purchasing an additional 3,452 shares during the last quarter. Deutsche Bank AG purchased a new stake in Medallion Financial during the 4th quarter worth approximately $92,000. D Orazio & Associates Inc. purchased a new stake in Medallion Financial during the 1st quarter worth approximately $95,000. Wells Fargo & Company MN increased its holdings 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 purchasing an additional 2,256 shares during the last quarter. Finally, Mariner LLC purchased a new stake in Medallion Financial during the 4th quarter worth approximately $112,000. 40.56% of the stock is currently owned by hedge funds and other 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.