Manhattan Bridge Capital (NASDAQ:LOAN) Earns Strong-Buy Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Thursday morning. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Performance

LOAN stock opened at $5.58 on Thursday. Manhattan Bridge Capital has a one year low of $4.60 and a one year high of $5.90. The firm’s fifty day moving average is $5.46 and its 200 day moving average is $5.36. The firm has a market cap of $63.83 million, a PE ratio of 11.39 and a beta of 0.55.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Wednesday, October 23rd. The credit services provider reported $0.12 EPS for the quarter, meeting analysts’ consensus estimates of $0.12. The firm had revenue of $2.31 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 8.24%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several institutional investors and hedge funds have recently added to or reduced their stakes in LOAN. B. Riley Wealth Advisors Inc. lifted its holdings in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 6,117 shares in the last quarter. Waddell & Associates LLC raised its position in shares of Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after purchasing an additional 2,861 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after buying an additional 3,008 shares during the last quarter. Beese Fulmer Investment Management Inc. boosted its holdings in Manhattan Bridge Capital by 53.4% in the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after buying an additional 45,222 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in shares of Manhattan Bridge Capital by 441.5% during the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after acquiring an additional 119,595 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

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.