Wolverine Trading LLC Makes New $130,000 Investment in Medallion Financial Corp. (NASDAQ:MFIN)

Wolverine Trading LLC acquired a new stake in Medallion Financial Corp. (NASDAQ:MFIN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 13,883 shares of the credit services provider’s stock, valued at approximately $130,000. Wolverine Trading LLC owned about 0.06% of Medallion Financial at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN grew its position in Medallion Financial by 24.3% during the 4th quarter. Wells Fargo & Company MN now owns 11,554 shares of the credit services provider’s stock worth $108,000 after purchasing an additional 2,256 shares during the period. Geode Capital Management LLC boosted its stake in shares of Medallion Financial by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 419,217 shares of the credit services provider’s stock worth $3,937,000 after buying an additional 2,261 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Medallion Financial by 11.5% in the fourth quarter. Bank of America Corp DE now owns 29,644 shares of the credit services provider’s stock worth $278,000 after buying an additional 3,057 shares during the last quarter. MetLife Investment Management LLC boosted its stake in shares of Medallion Financial by 62.0% in the fourth quarter. MetLife Investment Management LLC now owns 9,018 shares of the credit services provider’s stock worth $85,000 after buying an additional 3,452 shares during the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Medallion Financial by 13.6% in the fourth quarter. Rhumbline Advisers now owns 29,192 shares of the credit services provider’s stock worth $274,000 after buying an additional 3,503 shares during the last quarter. 40.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Medallion Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, February 5th.

Medallion Financial Stock Down 0.7%

Shares of MFIN opened at $9.32 on Friday. Medallion Financial Corp. has a 52 week low of $6.48 and a 52 week high of $10.50. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $216.56 million, a price-to-earnings ratio of 5.51 and a beta of 1.29. The stock’s 50-day moving average price is $8.90 and its 200-day moving average price is $9.05.

Medallion Financial (NASDAQ:MFIN) last issued its earnings results on Wednesday, April 30th. The credit services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.18. Medallion Financial had a return on equity of 9.52% and a net margin of 13.72%. The firm had revenue of $75.43 million for the quarter, compared to the consensus estimate of $51.73 million. On average, sell-side analysts predict that Medallion Financial Corp. will post 1.46 EPS for the current year.

Medallion Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.48 dividend on an annualized basis and a yield of 5.15%. This is an increase from Medallion Financial’s previous quarterly dividend of $0.11. Medallion Financial’s dividend payout ratio is currently 30.00%.

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.