Medallion Financial Corp. (NASDAQ:MFIN) Announces Quarterly Dividend of $0.14

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 17th will be given a dividend of 0.14 per share by the credit services provider on Monday, August 31st. This represents a c) annualized dividend and a dividend yield of 5.6%. The ex-dividend date is Monday, August 17th.

Medallion Financial has a dividend payout ratio of 34.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Medallion Financial to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 39.7%.

Medallion Financial Trading Up 0.1%

Shares of MFIN stock opened at $9.93 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.21 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $229.48 million, a P/E ratio of 6.71 and a beta of 0.78. Medallion Financial has a 12-month low of $7.85 and a 12-month high of $11.00. The firm has a 50-day moving average price of $9.82 and a 200 day moving average price of $9.67.

Medallion Financial (NASDAQ:MFIN) last posted its earnings results on Wednesday, July 29th. The credit services provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Medallion Financial had a net margin of 10.35% and a return on equity of 7.73%. The company had revenue of $58.06 million during the quarter, compared to analysts’ expectations of $58.98 million. Research analysts forecast that Medallion Financial will post 1.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Raymond James Financial began coverage on shares of Medallion Financial in a research report on Thursday, July 9th. They issued a “market perform” rating on the stock. Piper Sandler assumed coverage on shares of Medallion Financial in a research note on Friday, June 12th. They set a “neutral” rating and a $10.50 price target for the company. Zacks Research raised shares of Medallion Financial from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised Medallion Financial from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, July 2nd. One analyst has rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $11.25.

About Medallion Financial

Medallion Financial Corporation is a specialty finance company that provides asset-based lending solutions to small and mid-sized businesses in the United States. The company’s core business activities include secured loans collateralized by business assets such as insurance premiums, commercial real estate, maritime assets and portfolio receivables. Through its insurance premium finance division, Medallion offers short-term loans that allow policyholders to spread insurance costs over multiple payments, while its portfolio financing arm provides funding against a borrower’s existing asset portfolios.

Founded in 1998 and headquartered in Minneapolis, Minnesota, Medallion Financial originally established itself in the taxi medallion lending market, extending loans secured by New York City cab medallions.