Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Thursday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Trading Up 0.4 %

Shares of LOAN stock opened at $5.61 on Thursday. The firm’s 50 day moving average is $5.60 and its 200 day moving average is $5.45. The stock has a market capitalization of $64.17 million, a P/E ratio of 11.45 and a beta of 0.55. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90.

Manhattan Bridge Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.20%. The ex-dividend date is Tuesday, April 8th. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

A number of hedge funds have recently modified their holdings of LOAN. Advisory Services Network LLC bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter valued at $97,000. OLIO Financial Planning bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter valued at $117,000. NewEdge Advisors LLC grew its position in shares of Manhattan Bridge Capital by 28.4% during the 4th quarter. NewEdge Advisors LLC now owns 28,074 shares of the credit services provider’s stock valued at $157,000 after acquiring an additional 6,215 shares during the period. Atria Wealth Solutions Inc. grew its position in shares of Manhattan Bridge Capital by 13.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock valued at $159,000 after acquiring an additional 3,324 shares during the period. Finally, LPL Financial LLC bought a new stake in shares of Manhattan Bridge Capital during the 4th quarter valued at $169,000. Institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.