Medallion Financial (NASDAQ:MFIN) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Medallion Financial Corp. (NASDAQ:MFIN)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.19 and traded as high as $9.75. Medallion Financial shares last traded at $9.53, with a volume of 35,245 shares.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Saturday.

Medallion Financial Stock Performance

The firm’s 50-day moving average is $8.63 and its 200 day moving average is $8.19. The stock has a market cap of $219.86 million, a PE ratio of 5.64 and a beta of 2.12. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.18 and a current ratio of 1.18.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The firm had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. During the same quarter in the prior year, the firm earned $0.48 EPS. As a group, research analysts anticipate that Medallion Financial Corp. will post 1.48 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Friday, November 15th will be given a $0.11 dividend. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 4.62%. Medallion Financial’s dividend payout ratio is 23.67%.

Hedge Funds Weigh In On Medallion Financial

A number of large investors have recently bought and sold shares of the company. Stifel Financial Corp raised its position in Medallion Financial by 4.2% during the 3rd quarter. Stifel Financial Corp now owns 272,949 shares of the credit services provider’s stock worth $2,222,000 after buying an additional 10,974 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Medallion Financial by 32.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 213,477 shares of the credit services provider’s stock worth $1,738,000 after buying an additional 51,941 shares during the last quarter. State Street Corp raised its position in Medallion Financial by 0.7% during the 3rd quarter. State Street Corp now owns 204,558 shares of the credit services provider’s stock worth $1,665,000 after buying an additional 1,333 shares during the last quarter. American Century Companies Inc. raised its position in Medallion Financial by 30.6% during the 2nd quarter. American Century Companies Inc. now owns 187,408 shares of the credit services provider’s stock worth $1,439,000 after buying an additional 43,917 shares during the last quarter. Finally, Bank of New York Mellon Corp raised 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 worth $1,081,000 after buying an additional 52,857 shares during the last quarter. Hedge funds and other 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.