Medallion Financial (NASDAQ:MFIN) Shares Break Above Two Hundred Day Moving Average - What's Next?

Key Points

• Medallion Financial shares crossed above their 200-day moving average, reaching $11.44 before closing at $11.03, compared with the $10.35 long-term average.
• Analyst sentiment remains cautious: four analysts rate the stock Hold and one rates it Sell, producing a consensus “Reduce” rating and a $12.62 target price.
• The company reported quarterly earnings of $0.31 per share, beating estimates, and pays a quarterly dividend of $0.14, representing a 5.1% annualized yield.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $10.35 and traded as high as $11.44. Medallion Financial shares last traded at $11.03, with a volume of 74,511 shares.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Raymond James Financial assumed coverage on Medallion Financial in a research report on Thursday, July 9th. They set a "market perform" rating for the company. Weiss Ratings reissued a "hold (c)" rating on shares of Medallion Financial in a research report on Tuesday, September 29th. Piper Sandler reissued a "neutral" rating and set a $12.00 target price (up from $10.50) on shares of Medallion Financial in a research report on Friday, October 2nd. UBS Group restated a "neutral" rating on shares of Medallion Financial in a research note on Friday, October 2nd. Finally, Zacks Research cut Medallion Financial from a "strong-buy" rating to a "strong sell" rating in a research note on Monday, October 5th. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of "Reduce" and a consensus target price of $12.62.

Medallion Financial Stock Performance

The firm has a fifty day simple moving average of $11.74 and a 200-day simple moving average of $10.35. The company has a market cap of $253.25 million, a PE ratio of 8.29 and a beta of 0.79. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. The business had revenue of $84.38 million during the quarter, compared to the consensus estimate of $58.98 million. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%. On average, research analysts forecast that Medallion Financial Corp. will post 1.15 EPS for the current fiscal year.

Medallion Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 31st. Shareholders of record on Monday, August 17th were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.56 annualized dividend and a yield of 5.1%. Medallion Financial's payout ratio is 42.11%.

Institutional Investors Weigh In On Medallion Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Medallion Financial in the 2nd quarter valued at $12,450,000. Tieton Capital Management LLC acquired a new stake in Medallion Financial during the 2nd quarter worth $10,297,000. Sei Investments Co. grew its position in Medallion Financial by 124.0% during the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider's stock worth $4,203,000 after purchasing an additional 271,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Medallion Financial during the 2nd quarter worth $2,057,000. Finally, De Lisle Partners LLP purchased a new position in Medallion Financial during the 2nd quarter worth $2,027,000. Hedge funds and other institutional investors own 40.56% of the company's stock.

Medallion Financial Company Profile

Medallion Financial Corp. NASDAQ: MFIN is a specialty finance company that provides financing to consumers, small businesses and commercial vehicle operators. The company operates primarily through Medallion Bank and Medallion Funding, offering loans through direct and indirect lending channels.

Medallion Bank provides consumer financing for products and services such as home improvements, recreational vehicles, boats and other lifestyle purchases. Medallion Funding focuses on commercial lending, including loans secured by taxi medallions and financing for taxi and other transportation-related businesses.

Founded in 1995, Medallion Financial has historically served borrowers in the United States through relationships with dealers, contractors and other business partners.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.