Medallion Financial Corp. to Issue Quarterly Dividend of $0.12 (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Wednesday, February 18th. Shareholders of record on Thursday, March 19th will be paid a dividend of 0.12 per share by the credit services provider on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Thursday, March 19th.

Medallion Financial has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Research analysts expect Medallion Financial to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 29.8%.

Medallion Financial Stock Performance

NASDAQ MFIN opened at $10.62 on Thursday. The company has a market cap of $247.23 million, a PE ratio of 6.21 and a beta of 0.77. The stock’s 50 day simple moving average is $10.32 and its 200-day simple moving average is $10.20. Medallion Financial has a 1-year low of $7.71 and a 1-year high of $10.98. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.21 and a quick ratio of 1.18.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Wednesday, February 18th. The credit services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.41 by $0.09. Medallion Financial had a return on equity of 9.28% and a net margin of 12.12%.The firm had revenue of $55.92 million during the quarter, compared to analysts’ expectations of $56.20 million. As a group, equities research analysts anticipate that Medallion Financial will post 1.46 EPS for the current fiscal year.

Medallion Financial Company Profile

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.