Stifel Financial Corp Trims Stock Holdings in Medallion Financial Corp. (NASDAQ:MFIN)

Stifel Financial Corp reduced its stake in Medallion Financial Corp. (NASDAQ:MFIN - Free Report) by 10.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 243,414 shares of the credit services provider's stock after selling 29,535 shares during the quarter. Stifel Financial Corp owned 1.06% of Medallion Financial worth $2,286,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. MetLife Investment Management LLC lifted its holdings in shares of Medallion Financial by 62.0% in the 4th quarter. MetLife Investment Management LLC now owns 9,018 shares of the credit services provider's stock valued at $85,000 after buying an additional 3,452 shares during the period. Mariner LLC purchased a new position in shares of Medallion Financial in the 4th quarter valued at about $112,000. Barclays PLC lifted its stake in shares of Medallion Financial by 16.1% in the fourth quarter. Barclays PLC now owns 30,247 shares of the credit services provider's stock valued at $284,000 after purchasing an additional 4,184 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Medallion Financial in the 4th quarter worth approximately $150,000. Finally, Wells Fargo & Company MN raised its stake in shares of Medallion Financial by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider's stock worth $108,000 after buying an additional 2,256 shares during the last quarter. Institutional investors and hedge funds own 40.56% of the company's stock.

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, February 5th.

Medallion Financial Trading Down 0.9 %

Shares of MFIN stock traded down $0.08 during mid-day trading on Thursday, hitting $9.20. 21,285 shares of the company's stock were exchanged, compared to its average volume of 69,280. The stock has a market cap of $213.76 million, a price-to-earnings ratio of 5.44 and a beta of 1.29. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial Corp. has a fifty-two week low of $6.48 and a fifty-two week high of $10.50. The stock has a 50-day simple moving average of $8.72 and a two-hundred day simple moving average of $9.07.

Medallion Financial (NASDAQ:MFIN - Get Free Report) last released its earnings results on Wednesday, April 30th. The credit services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.18. The business had revenue of $75.43 million for the quarter, compared to analysts' expectations of $51.73 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. Equities analysts expect that Medallion Financial Corp. will post 1.46 EPS for the current fiscal year.

Medallion Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Thursday, May 15th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 5.22%. 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. Medallion Financial's dividend payout ratio (DPR) is 30.00%.

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.