Northland Capmk Equities Analysts Raise Earnings Estimates for Medallion Financial Corp. (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Northland Capmk lifted their Q2 2024 earnings per share estimates for Medallion Financial in a report released on Thursday, May 2nd. Northland Capmk analyst M. Grondahl now expects that the credit services provider will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Medallion Financial’s Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.45 EPS.

Separately, StockNews.com upgraded Medallion Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, May 1st.

Medallion Financial Stock Down 2.7 %

Shares of NASDAQ MFIN opened at $7.91 on Monday. The stock has a market cap of $184.92 million, a PE ratio of 3.73 and a beta of 2.08. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.57. Medallion Financial has a 12-month low of $6.17 and a 12-month high of $10.49. The company has a 50-day moving average of $7.87 and a 200 day moving average of $8.74.

Medallion Financial (NASDAQ:MFIN) last released its earnings results on Tuesday, February 20th. The credit services provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The business had revenue of $52.01 million for the quarter, compared to analysts’ expectations of $54.89 million. Medallion Financial had a return on equity of 12.47% and a net margin of 17.96%.

Medallion Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.40 annualized dividend and a dividend yield of 5.06%. Medallion Financial’s payout ratio is 18.87%.

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds have recently modified their holdings of the company. Barclays PLC acquired a new position in Medallion Financial in the 3rd quarter valued at about $57,000. AJOVista LLC purchased a new position in Medallion Financial in the fourth quarter worth approximately $90,000. Jump Financial LLC acquired a new stake in Medallion Financial during the fourth quarter worth $161,000. EAM Investors LLC purchased a new stake in Medallion Financial in the third quarter valued at $125,000. Finally, PAX Financial Group LLC purchased a new stake in Medallion Financial in the third quarter valued at $130,000. Hedge funds and other institutional investors own 40.56% of the company’s stock.

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.