Marlin Business Services Corp. (NASDAQ:MRLN) declared a quarterly dividend on Thursday, May 2nd, Fidelity reports. Investors of record on Monday, May 13th will be given a dividend of 0.14 per share by the financial services provider on Thursday, May 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Friday, May 10th. This is a boost from Marlin Business Services’s previous quarterly dividend of $0.11.
Marlin Business Services has increased its dividend payment by an average of 1.9% per year over the last three years. Marlin Business Services has a payout ratio of 27.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Marlin Business Services to earn $2.63 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 21.3%.
Marlin Business Services stock traded down $0.05 during mid-day trading on Thursday, reaching $21.99. The company’s stock had a trading volume of 809 shares, compared to its average volume of 16,969. The company has a market cap of $271.56 million, a P/E ratio of 10.78 and a beta of 1.02. Marlin Business Services has a 12 month low of $17.51 and a 12 month high of $31.60. The company has a current ratio of 0.15, a quick ratio of 0.15 and a debt-to-equity ratio of 0.76.
A number of research analysts have recently commented on MRLN shares. ValuEngine downgraded shares of Marlin Business Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 27th. Zacks Investment Research raised shares of Marlin Business Services from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research report on Thursday, February 7th. Finally, BidaskClub downgraded shares of Marlin Business Services from a “hold” rating to a “sell” rating in a research report on Saturday, January 19th.
A hedge fund recently raised its stake in Marlin Business Services stock. Geode Capital Management LLC grew its position in Marlin Business Services Corp. (NASDAQ:MRLN) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,326 shares of the financial services provider’s stock after acquiring an additional 3,426 shares during the period. Geode Capital Management LLC owned about 1.17% of Marlin Business Services worth $3,244,000 at the end of the most recent quarter. Institutional investors and hedge funds own 84.69% of the company’s stock.
About Marlin Business Services
Marlin Business Services Corp., through its subsidiaries, provides equipment financing solutions to small and mid-sized businesses in the United States. It finances approximately 100 categories of equipment, including commercial and industrial, restaurant, auto, medical, VOIP, and printing equipment, as well as computer software, copiers, cash registers, dental implant systems, and other commercial equipment.
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