Medallion Financial Corp. (NASDAQ:MFIN) to Issue $0.10 Quarterly Dividend

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) declared a quarterly dividend on Tuesday, April 30th, Zacks reports. Investors of record on Wednesday, May 15th will be given a dividend of 0.10 per share by the credit services provider on Friday, May 31st. This represents a $0.40 dividend on an annualized basis and a yield of 5.10%. The ex-dividend date of this dividend is Tuesday, May 14th.

Medallion Financial has a payout ratio of 20.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.99 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 20.1%.

Medallion Financial Trading Up 1.2 %

MFIN stock traded up $0.09 during trading on Thursday, reaching $7.85. The company had a trading volume of 48,816 shares, compared to its average volume of 98,093. Medallion Financial has a 52 week low of $5.75 and a 52 week high of $10.49. The business has a 50 day moving average of $7.88 and a 200 day moving average of $8.69. The company has a market cap of $183.53 million, a P/E ratio of 3.72 and a beta of 2.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.20.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last announced its earnings results on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share for the quarter, missing analysts' consensus estimates of $0.61 by ($0.01). Medallion Financial had a net margin of 17.96% and a return on equity of 12.47%. The business had revenue of $52.01 million for the quarter, compared to the consensus estimate of $54.89 million. As a group, sell-side analysts forecast that Medallion Financial will post 1.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Medallion Financial from a "hold" rating to a "buy" rating in a research note on Wednesday.

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.