Q2 2024 EPS Estimates for Medallion Financial Corp. Lifted by Northland Capmk (NASDAQ:MFIN)

Medallion Financial Corp. (NASDAQ:MFIN) – Investment analysts at Northland Capmk raised their Q2 2024 earnings estimates for Medallion Financial in a research note issued on Thursday, May 2nd. Northland Capmk analyst M. Grondahl now anticipates that the credit services provider will post earnings of $0.33 per share for the quarter, up from their previous estimate of $0.31. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. Northland Capmk also issued estimates for Medallion Financial’s Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.35 EPS and FY2024 earnings at $1.45 EPS.

Separately, StockNews.com raised shares of Medallion Financial from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st.

Medallion Financial Trading Up 2.0 %

Shares of MFIN opened at $8.13 on Monday. Medallion Financial has a 1-year low of $6.17 and a 1-year high of $10.49. The company has a market capitalization of $190.08 million, a P/E ratio of 3.83 and a beta of 2.08. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.20 and a quick ratio of 1.20. The firm’s 50 day simple moving average is $7.87 and its 200 day simple moving average is $8.73.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Tuesday, February 20th. The credit services provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.01). The firm had revenue of $52.01 million for the quarter, compared to analysts’ expectations of $54.89 million. Medallion Financial had a net margin of 17.96% and a return on equity of 12.47%.

Medallion Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Wednesday, May 15th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 4.92%. Medallion Financial’s payout ratio is 18.87%.

Institutional Trading of Medallion Financial

Institutional investors have recently added to or reduced their stakes in the business. Barclays PLC bought a new position in shares of Medallion Financial during the third quarter valued at about $57,000. AJOVista LLC purchased a new stake in shares of Medallion Financial in the 4th quarter worth about $90,000. Jump Financial LLC bought a new stake in shares of Medallion Financial during the 4th quarter valued at about $161,000. EAM Investors LLC purchased a new position in shares of Medallion Financial during the third quarter valued at about $125,000. Finally, PAX Financial Group LLC bought a new position in Medallion Financial in the third quarter worth about $130,000. 40.56% of the stock is currently owned by hedge funds and other institutional investors.

About Medallion Financial

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.