Medallion Financial Corp. (MFIN) to Issue Quarterly Dividend of $0.12 on November 24th

Medallion Financial Corp. (NASDAQ:MFIN) declared a quarterly dividend on Friday, October 24th. Investors of record on Wednesday, November 12th will be given a dividend of 0.12 per share by the credit services provider on Monday, November 24th. This represents a c) dividend on an annualized basis and a yield of 4.9%. The ex-dividend date is Wednesday, November 12th.

Medallion Financial has a dividend payout ratio of 29.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.48 annual dividend with an expected future payout ratio of 29.8%.

Medallion Financial Trading Down 0.1%

Shares of NASDAQ:MFIN opened at $9.88 on Monday. The company has a quick ratio of 1.17, a current ratio of 1.20 and a debt-to-equity ratio of 0.38. The company’s 50-day moving average price is $10.16 and its 200 day moving average price is $9.81. The company has a market cap of $230.00 million, a PE ratio of 5.78 and a beta of 1.39. Medallion Financial has a fifty-two week low of $7.71 and a fifty-two week high of $10.98.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Wednesday, October 29th. The credit services provider reported $0.46 EPS for the quarter, beating the consensus estimate of $0.29 by $0.17. Medallion Financial had a net margin of 12.12% and a return on equity of 9.40%. The company had revenue of $55.69 million for the quarter, compared to analyst estimates of $53.76 million. Sell-side analysts anticipate that Medallion Financial will post 1.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on MFIN shares. Zacks Research upgraded Medallion Financial from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Wall Street Zen lowered Medallion Financial from a “buy” rating to a “hold” rating in a research report on Saturday. LADENBURG THALM/SH SH upgraded Medallion Financial from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a report on Thursday, July 31st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Medallion Financial in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $12.00.

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.