State Street Corp Takes $341,000 Position in Medallion Financial Corp. (NASDAQ:MFIN)

State Street Corp bought a new stake in Medallion Financial Corp. (NASDAQ:MFIN) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 38,525 shares of the credit services provider’s stock, valued at approximately $341,000.

Other large investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in shares of Medallion Financial by 32.7% in the 1st quarter. Morgan Stanley now owns 21,291 shares of the credit services provider’s stock valued at $151,000 after purchasing an additional 5,247 shares in the last quarter. WINTON GROUP Ltd lifted its position in Medallion Financial by 6.9% during the 2nd quarter. WINTON GROUP Ltd now owns 38,849 shares of the credit services provider’s stock worth $344,000 after buying an additional 2,520 shares in the last quarter. Geode Capital Management LLC lifted its position in Medallion Financial by 2.5% during the 2nd quarter. Geode Capital Management LLC now owns 150,108 shares of the credit services provider’s stock worth $1,329,000 after buying an additional 3,699 shares in the last quarter. Millennium Management LLC lifted its position in Medallion Financial by 2.6% during the 1st quarter. Millennium Management LLC now owns 253,228 shares of the credit services provider’s stock worth $1,785,000 after buying an additional 6,470 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Medallion Financial by 6.0% during the 2nd quarter. Vanguard Group Inc. now owns 848,429 shares of the credit services provider’s stock worth $7,517,000 after buying an additional 48,291 shares in the last quarter. Institutional investors own 26.58% of the company’s stock.

Shares of NASDAQ:MFIN opened at $8.65 on Wednesday. The stock has a market capitalization of $216.93 million, a P/E ratio of 5.24 and a beta of 2.83. Medallion Financial Corp. has a 1-year low of $4.64 and a 1-year high of $9.50. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.63. The business has a 50-day moving average price of $8.33 and a two-hundred day moving average price of $8.57.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Monday, November 1st. The credit services provider reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.36. The company had revenue of $41.28 million during the quarter, compared to analysts’ expectations of $37.45 million. Medallion Financial had a return on equity of 12.86% and a net margin of 24.75%. During the same period in the prior year, the business posted ($0.97) EPS. As a group, equities analysts predict that Medallion Financial Corp. will post 1.7 EPS for the current year.

MFIN has been the topic of several research reports. TheStreet upgraded shares of Medallion Financial from a “c” rating to a “b-” rating in a research report on Monday, November 1st. Zacks Investment Research upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Wednesday, November 17th.

Medallion Financial Profile

Medallion Financial Corp. is a bank holding company, which through its subsidiaries, engages in the provision of consumer loans, raises deposits, and other banking activities. It operates through the following segments: Consumer Lending; Commercial Lending; Medallion Lending; RPAC Racing, LLC (RPAC); and Corporate and Other.

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Institutional Ownership by Quarter for Medallion Financial (NASDAQ:MFIN)