Manhattan Bridge Capital (NASDAQ:LOAN) Posts Earnings Results, Hits Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) posted its quarterly earnings data on Wednesday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11, FiscalAI reports. The company had revenue of $0.00 million for the quarter, compared to the consensus estimate of $2.04 million. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%.

Manhattan Bridge Capital Stock Down 0.9%

NASDAQ:LOAN opened at $3.39 on Thursday. The firm has a market capitalization of $38.75 million, a price-to-earnings ratio of 8.07 and a beta of 0.20. Manhattan Bridge Capital has a twelve month low of $3.31 and a twelve month high of $5.27. The stock’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $4.17.

Manhattan Bridge Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Thursday, October 8th were given a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, October 8th. This represents a $0.44 annualized dividend and a dividend yield of 13.0%. Manhattan Bridge Capital’s payout ratio is 104.76%.

Insider Activity

In related news, CEO Assaf Ran acquired 8,000 shares of the business’s stock in a transaction dated Tuesday, July 28th. The stock was bought at an average price of $3.99 per share, with a total value of $31,920.00. Following the acquisition, the chief executive officer owned 1,235,000 shares in the company, valued at $4,927,650. This represents a 0.65% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on LOAN. Weiss Ratings lowered shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Zacks Research raised shares of Manhattan Bridge Capital to a “hold” rating in a research report on Monday, October 5th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce”.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.