Medallion Financial (NASDAQ:MFIN) Announces Earnings Results

Medallion Financial (NASDAQ:MFIN) announced its earnings results on Thursday. The credit services provider reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.22), FiscalAI reports. The firm had revenue of $88.89 million during the quarter, compared to analysts’ expectations of $63.54 million. Medallion Financial had a return on equity of 7.11% and a net margin of 9.25%.

Medallion Financial Stock Up 1.2%

Medallion Financial stock traded up $0.14 during midday trading on Thursday, reaching $11.66. The company’s stock had a trading volume of 45,984 shares, compared to its average volume of 65,814. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 1.21. The stock has a market capitalization of $267.71 million, a P/E ratio of 8.77 and a beta of 0.79. The stock’s 50-day simple moving average is $11.75 and its 200-day simple moving average is $10.28. Medallion Financial has a 52-week low of $7.85 and a 52-week high of $12.26.

Analyst Ratings Changes

MFIN has been the subject of several recent research reports. Raymond James Financial assumed coverage on shares of Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating for the company. Piper Sandler reissued a “neutral” rating and set a $12.00 price target (up from $10.50) on shares of Medallion Financial in a report on Friday, October 2nd. Weiss Ratings raised shares of Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. UBS Group reiterated a “neutral” rating on shares of Medallion Financial in a research report on Friday, October 2nd. Finally, Northland Securities set a $13.25 price target on Medallion Financial in a report on Wednesday, October 14th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Medallion Financial currently has a consensus rating of “Reduce” and a consensus target price of $12.62.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.