What is Northland Capmk’s Estimate for MFIN FY2024 Earnings?

Medallion Financial Corp. (NASDAQ:MFIN) – Stock analysts at Northland Capmk boosted their FY2024 earnings estimates for shares of Medallion Financial in a report issued on Wednesday, October 30th. Northland Capmk analyst M. Grondahl now anticipates that the credit services provider will post earnings per share of $1.42 for the year, up from their prior forecast of $1.41. The consensus estimate for Medallion Financial’s current full-year earnings is $1.48 per share.

Separately, StockNews.com upgraded Medallion Financial from a “hold” rating to a “buy” rating in a report on Monday, October 28th.

Medallion Financial Trading Up 2.5 %

MFIN stock opened at $9.51 on Monday. The business has a fifty day moving average price of $8.33 and a 200 day moving average price of $8.10. 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 fifty-two week low of $6.48 and a fifty-two week high of $10.14. The stock has a market capitalization of $220.35 million, a price-to-earnings ratio of 5.63 and a beta of 2.12.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $77.00 million during the quarter, compared to analyst estimates of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.59%. During the same quarter last year, the business posted $0.48 earnings per share.

Medallion Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Friday, November 15th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.63%. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Friday, November 15th. Medallion Financial’s dividend payout ratio is presently 23.67%.

Institutional Trading of Medallion Financial

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortis Capital Advisors LLC bought a new position in Medallion Financial in the 1st quarter valued at $169,000. O Shaughnessy Asset Management LLC increased its position in Medallion Financial by 3.3% in the first 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 during the period. Bank of New York Mellon Corp lifted its position in Medallion Financial by 60.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 140,794 shares of the credit services provider’s stock valued at $1,081,000 after purchasing an additional 52,857 shares during the period. Ridgewood Investments LLC acquired a new position in Medallion Financial during the 2nd quarter valued at about $38,000. Finally, Panagora Asset Management Inc. bought a new position in shares of Medallion Financial in the 2nd quarter valued at about $462,000. Institutional investors and hedge funds 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.