Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

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

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.22 on Thursday. The firm’s 50 day moving average price is $5.26 and its 200-day moving average price is $5.12. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.59. The company has a market cap of $59.72 million, a PE ratio of 10.44 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings data on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a net margin of 56.72% and a return on equity of 13.20%. The firm had revenue of $2.44 million for the quarter.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.81%. Manhattan Bridge Capital’s dividend payout ratio is presently 92.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors have recently bought and sold shares of the company. National Bank of Canada FI boosted its stake in Manhattan Bridge Capital by 195.0% in the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after acquiring an additional 3,900 shares in the last quarter. Riversedge Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital during the second quarter worth $68,000. Virtu Financial LLC purchased a new stake in shares of Manhattan Bridge Capital during the first quarter valued at $69,000. B. Riley Wealth Advisors Inc. increased its position in shares of Manhattan Bridge Capital by 67.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after acquiring an additional 6,923 shares during the period. Finally, Frazier Financial Advisors LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter worth $206,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.