Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report released on Thursday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

NASDAQ:LOAN opened at $5.58 on Thursday. The firm has a 50 day moving average of $5.46 and a 200 day moving average of $5.36. Manhattan Bridge Capital has a 52 week low of $4.60 and a 52 week high of $5.90. The stock has a market capitalization of $63.83 million, a price-to-earnings ratio of 11.39 and a beta of 0.55.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The firm had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LOAN. B. Riley Wealth Advisors Inc. grew its holdings in shares of Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after buying an additional 6,117 shares during the last quarter. Waddell & Associates LLC grew its stake in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock valued at $396,000 after purchasing an additional 2,861 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Manhattan Bridge Capital by 2.7% in the third quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock valued at $635,000 after purchasing an additional 3,008 shares during the period. Beese Fulmer Investment Management Inc. raised its stake in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock worth $817,000 after purchasing an additional 119,595 shares during the period. Institutional investors and hedge funds own 21.84% of the company’s stock.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.