Medallion Financial (NASDAQ:MFIN) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $9.08 and traded as high as $9.59. Medallion Financial shares last traded at $9.43, with a volume of 58,244 shares changing hands.

Analyst Ratings Changes

Separately, Wall Street Zen raised Medallion Financial from a "hold" rating to a "buy" rating in a research note on Wednesday, February 5th.

Medallion Financial Price Performance

The company's 50-day moving average price is $8.86 and its 200-day moving average price is $9.06. 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 firm has a market cap of $219.81 million, a price-to-earnings ratio of 5.60 and a beta of 1.29.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted 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 business had revenue of $75.43 million during the quarter, compared to the consensus estimate of $51.73 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. On average, equities research analysts forecast that Medallion Financial Corp. will post 1.46 EPS for the current year.

Medallion Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.12 per share. This is an increase from Medallion Financial's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.48 annualized dividend and a yield of 5.07%. Medallion Financial's dividend payout ratio is 30.00%.

Hedge Funds Weigh In On Medallion Financial

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MetLife Investment Management LLC boosted its position in shares of 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 acquiring an additional 3,452 shares in the last quarter. Deutsche Bank AG acquired a new stake in Medallion Financial during the fourth quarter worth approximately $92,000. D Orazio & Associates Inc. purchased a new stake in shares of Medallion Financial during the 1st quarter worth approximately $95,000. Wells Fargo & Company MN boosted its holdings in shares of Medallion Financial by 24.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock valued at $108,000 after buying an additional 2,256 shares in the last quarter. Finally, Mariner LLC purchased a new position in shares of Medallion Financial in the 4th quarter valued at $112,000. Hedge funds and other institutional investors own 40.56% of the company's stock.

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.