Medallion Financial (NASDAQ:MFIN) Stock Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• Medallion Financial shares rose above their 200-day moving average, trading near $11.98 versus the $10.02 average, signaling improved technical momentum.
• Analysts remain cautious: all four covering firms rate the stock “Hold”, with a consensus price target of $10.50—below its recent trading level.
• The company exceeded quarterly expectations with $0.31 EPS and $84.38 million in revenue, while maintaining a $0.14 quarterly dividend, equivalent to a 4.7% annualized yield.

Medallion Financial Corp. (NASDAQ:MFIN - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.02 and traded as high as $12.02. Medallion Financial shares last traded at $11.98, with a volume of 199,178 shares changing hands.

Wall Street Analysts Forecast Growth

Several research firms have commented on MFIN. Zacks Research raised shares of Medallion Financial from a "strong sell" rating to a "hold" rating in a research note on Tuesday, June 30th. Weiss Ratings raised shares of Medallion Financial from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday, July 2nd. Piper Sandler began coverage on shares of Medallion Financial in a report on Friday, June 12th. They issued a "neutral" rating and a $10.50 target price for the company. Finally, Raymond James Financial initiated coverage on shares of Medallion Financial in a research note on Thursday, July 9th. They set a "market perform" rating for the company. Four research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $10.50.

Medallion Financial Price Performance

The company has a market capitalization of $275.06 million, a PE ratio of 9.01 and a beta of 0.81. The firm has a fifty day simple moving average of $11.10 and a 200 day simple moving average of $10.02. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.29 by $0.02. The business had revenue of $84.38 million for 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%. Equities analysts anticipate that Medallion Financial Corp. will post 1.15 EPS for the current year.

Medallion Financial Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a yield of 4.7%. Medallion Financial's dividend payout ratio (DPR) is 42.11%.

Institutional Investors Weigh In On Medallion Financial

Several hedge funds have recently modified their holdings of the business. Stephens Inc. AR purchased a new position in Medallion Financial during the first quarter valued at approximately $96,000. Vise Technologies Inc. purchased a new stake in Medallion Financial during the second quarter worth $110,000. Allworth Financial LP bought a new stake in Medallion Financial during the 2nd quarter valued at $164,000. PDT Partners LLC bought a new stake in Medallion Financial during the 2nd quarter valued at $185,000. Finally, Bank of America Corp DE purchased a new position in shares of Medallion Financial in the 2nd quarter valued at $190,000. Hedge funds and other institutional investors own 40.56% of the company's stock.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides financing to individuals and businesses, with a historical focus on loans secured by taxicab medallions and related taxi assets. Through its lending subsidiaries, the company has supported taxi operators and medallion owners in major U.S. metropolitan areas.

In addition to taxi-medallion lending, Medallion Financial has expanded into other consumer and commercial finance activities. Its businesses have included recreational lending for products such as boats and recreational vehicles, as well as financing for home improvements and other consumer purposes.

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