Medallion Financial (NASDAQ:MFIN) Shares Cross Above 200-Day Moving Average – What’s Next?

Medallion Financial Corp. (NASDAQ:MFIN)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $8.55 and traded as high as $9.53. Medallion Financial shares last traded at $9.39, with a volume of 72,111 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Medallion Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th.

Medallion Financial Price Performance

The firm has a market capitalization of $211.99 million, a P/E ratio of 5.44 and a beta of 2.11. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average price of $9.60 and a 200-day moving average price of $8.56.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. During the same period last year, the company earned $0.48 earnings per share. On average, analysts expect that Medallion Financial Corp. will post 1.48 earnings per share for the current year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th were issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.79%. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, November 15th. Medallion Financial’s dividend payout ratio is presently 26.04%.

Hedge Funds Weigh In On Medallion Financial

Large investors have recently bought and sold shares of the business. Barclays PLC lifted its holdings in Medallion Financial by 297.6% during the 3rd quarter. Barclays PLC now owns 26,063 shares of the credit services provider’s stock valued at $213,000 after buying an additional 19,508 shares in the last quarter. Soltis Investment Advisors LLC increased its position in shares of Medallion Financial by 7.4% during the third quarter. Soltis Investment Advisors LLC now owns 58,294 shares of the credit services provider’s stock worth $475,000 after acquiring an additional 4,002 shares during the period. Geode Capital Management LLC raised its stake in shares of Medallion Financial by 2.4% during the third quarter. Geode Capital Management LLC now owns 416,956 shares of the credit services provider’s stock valued at $3,394,000 after acquiring an additional 9,849 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Medallion Financial in the third quarter valued at approximately $117,000. Finally, State Street Corp grew its stake in Medallion Financial by 0.7% in the third quarter. State Street Corp now owns 204,558 shares of the credit services provider’s stock worth $1,665,000 after purchasing an additional 1,333 shares in the last quarter. Hedge funds and other institutional investors own 40.56% of the company’s stock.

About Medallion Financial

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.