Medallion Financial (NASDAQ:MFIN) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.01 and traded as high as $9.75. Medallion Financial shares last traded at $9.61, with a volume of 17,684 shares traded.

Wall Street Analysts Forecast Growth

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

Medallion Financial Price Performance

The company's 50 day moving average is $9.38 and its 200 day moving average is $9.01. The company has a current ratio of 1.18, a quick ratio of 1.12 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $219.81 million, a price-to-earnings ratio of 5.91 and a beta of 1.33.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced 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. Medallion Financial had a net margin of 11.96% and a return on equity of 8.70%. The firm had revenue of $75.43 million for the quarter, compared to analyst estimates of $51.73 million. Research analysts anticipate that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were paid a dividend of $0.12 per share. This is a positive change from Medallion Financial's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a yield of 5.07%. The ex-dividend date of this dividend was Thursday, May 15th. Medallion Financial's dividend payout ratio (DPR) is currently 30.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Tieton Capital Management LLC increased its stake in Medallion Financial by 22.9% in the fourth quarter. Tieton Capital Management LLC now owns 987,098 shares of the credit services provider's stock valued at $9,269,000 after purchasing an additional 184,172 shares during the period. Geode Capital Management LLC increased its stake in Medallion Financial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 419,217 shares of the credit services provider's stock valued at $3,937,000 after purchasing an additional 2,261 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in Medallion Financial by 26.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 269,116 shares of the credit services provider's stock valued at $2,527,000 after purchasing an additional 55,639 shares during the period. Northern Trust Corp increased its stake in Medallion Financial by 4.6% in the fourth quarter. Northern Trust Corp now owns 148,666 shares of the credit services provider's stock valued at $1,396,000 after purchasing an additional 6,553 shares during the period. Finally, Bridgeway Capital Management LLC increased its stake in Medallion Financial by 5.8% in the fourth quarter. Bridgeway Capital Management LLC now owns 134,584 shares of the credit services provider's stock valued at $1,264,000 after purchasing an additional 7,421 shares during the period. 40.56% of the stock is currently owned by institutional investors and hedge funds.

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.