Medallion Financial Corp. Expected to Earn Q3 2024 Earnings of $0.38 Per Share (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Equities researchers at B. Riley issued their Q3 2024 earnings estimates for shares of Medallion Financial in a note issued to investors on Monday, September 23rd. B. Riley analyst M. Howlett anticipates that the credit services provider will post earnings of $0.38 per share for the quarter. The consensus estimate for Medallion Financial’s current full-year earnings is $1.48 per share. B. Riley also issued estimates for Medallion Financial’s FY2024 earnings at $1.51 EPS.

Separately, StockNews.com cut Medallion Financial from a “buy” rating to a “hold” rating in a research report on Friday, August 9th.

Medallion Financial Stock Performance

NASDAQ:MFIN opened at $8.12 on Thursday. The company has a market capitalization of $188.14 million, a P/E ratio of 3.83 and a beta of 2.16. The business has a fifty day simple moving average of $7.90 and a two-hundred day simple moving average of $7.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.19 and a quick ratio of 1.19. Medallion Financial has a 1 year low of $6.28 and a 1 year high of $10.14.

Medallion Financial (NASDAQ:MFIN) last issued its quarterly earnings results on Tuesday, July 30th. The credit services provider reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.03). Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. The company had revenue of $71.80 million for the quarter, compared to analysts’ expectations of $50.39 million. During the same quarter in the previous year, the business earned $0.62 EPS.

Medallion Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Thursday, August 15th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend was Thursday, August 15th. Medallion Financial’s dividend payout ratio (DPR) is currently 18.87%.

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Jump Financial LLC purchased a new position in Medallion Financial during the 4th quarter valued at about $161,000. Denali Advisors LLC grew its stake in Medallion Financial by 100.4% during the first quarter. Denali Advisors LLC now owns 44,700 shares of the credit services provider’s stock valued at $354,000 after acquiring an additional 22,400 shares in the last quarter. Fortis Capital Advisors LLC bought a new stake in Medallion Financial during the 1st quarter worth approximately $169,000. O Shaughnessy Asset Management LLC lifted its stake in Medallion Financial by 3.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 98,279 shares of the credit services provider’s stock worth $777,000 after purchasing an additional 3,125 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Medallion Financial by 60.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock worth $1,081,000 after purchasing an additional 52,857 shares in the last quarter. Institutional investors own 40.56% of the company’s stock.

Medallion Financial Company Profile

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.