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

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 $9.08 and traded as high as $9.59. Medallion Financial shares last traded at $9.43, with a volume of 58,244 shares traded.

Wall Street Analysts Forecast Growth

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

Medallion Financial Price Performance

The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18. The company has a market capitalization of $216.68 million, a PE ratio of 5.58 and a beta of 1.29. The company's 50-day simple moving average is $8.87 and its 200-day simple moving average is $9.06.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its earnings results on Wednesday, April 30th. The credit services provider reported $0.50 earnings per share 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%. As a group, sell-side analysts anticipate that Medallion Financial Corp. will post 1.46 earnings per share for the current year.

Medallion Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Thursday, May 15th will be paid a $0.12 dividend. This is an increase from Medallion Financial's previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, May 15th. Medallion Financial's dividend payout ratio (DPR) is 30.00%.

Institutional Investors Weigh In On Medallion Financial

Several large investors have recently modified their holdings of the stock. Tieton Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 184,172 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in Medallion Financial in the 4th quarter valued at approximately $877,000. Connor Clark & Lunn Investment Management Ltd. increased its position in Medallion Financial by 26.1% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 269,116 shares of the credit services provider's stock worth $2,527,000 after purchasing an additional 55,639 shares during the period. Uniplan Investment Counsel Inc. purchased a new position in shares of Medallion Financial during the 1st quarter worth approximately $483,000. Finally, O Shaughnessy Asset Management LLC raised its stake in shares of Medallion Financial by 37.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 132,143 shares of the credit services provider's stock worth $1,241,000 after buying an additional 35,917 shares in the last quarter. 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.