Medallion Financial Corp. (NASDAQ:MFIN) Stock Has Consensus Price Target of $12.62 According to Brokerages

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have received an average recommendation of “Reduce” from the six brokerages that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $12.62.

MFIN has been the subject of a number of recent research reports. Piper Sandler restated a “neutral” rating and issued a $12.00 price objective (up from $10.50) on shares of Medallion Financial in a research note on Friday, October 2nd. Weiss Ratings raised Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Zacks Research lowered Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research note on Monday, October 5th. UBS Group reissued a “neutral” rating on shares of Medallion Financial in a report on Friday, October 2nd. Finally, Raymond James Financial began coverage on Medallion Financial in a research report on Thursday, July 9th. They set a “market perform” rating for the company.

Institutional Trading of Medallion Financial

Several hedge funds have recently modified their holdings of MFIN. BlackRock Inc. acquired a new position in shares of Medallion Financial during the second quarter valued at $12,450,000. Tieton Capital Management LLC bought a new stake in Medallion Financial during the 2nd quarter worth about $10,297,000. Sei Investments Co. raised its holdings in Medallion Financial by 124.0% during the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock worth $4,203,000 after purchasing an additional 271,789 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Medallion Financial during the 2nd quarter worth about $2,057,000. Finally, De Lisle Partners LLP bought a new position in shares of Medallion Financial in the 2nd quarter valued at about $2,027,000. Institutional investors and hedge funds own 40.56% of the company’s stock.

Medallion Financial Stock Performance

MFIN opened at $10.02 on Tuesday. The stock’s 50 day moving average price is $11.70 and its two-hundred day moving average price is $10.28. The firm has a market capitalization of $230.06 million, a P/E ratio of 9.03 and a beta of 0.79. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Medallion Financial has a 12-month low of $7.85 and a 12-month high of $12.26.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Thursday, October 29th. The credit services provider reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.22). Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The company had revenue of $88.89 million during the quarter, compared to the consensus estimate of $63.54 million. On average, equities analysts forecast that Medallion Financial will post 1.15 earnings per share for the current year.

Medallion Financial Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Monday, November 9th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Monday, November 9th. Medallion Financial’s dividend payout ratio (DPR) is currently 50.45%.

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.