Janney Montgomery Scott LLC Grows Stake in Medallion Financial Corp. (NASDAQ:MFIN)

Janney Montgomery Scott LLC raised its stake in shares of Medallion Financial Corp. (NASDAQ:MFIN – Free Report) by 73.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,208 shares of the credit services provider’s stock after buying an additional 21,321 shares during the quarter. Janney Montgomery Scott LLC owned about 0.22% of Medallion Financial worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Medallion Financial by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 938,516 shares of the credit services provider’s stock valued at $7,978,000 after acquiring an additional 29,247 shares during the last quarter. Invesco Ltd. bought a new stake in Medallion Financial in the first quarter worth about $1,909,000. Millennium Management LLC lifted its position in shares of Medallion Financial by 478.3% during the second quarter. Millennium Management LLC now owns 82,882 shares of the credit services provider’s stock worth $530,000 after purchasing an additional 68,549 shares during the last quarter. Two Sigma Advisers LP increased its stake in Medallion Financial by 49.9% in the 3rd quarter. Two Sigma Advisers LP now owns 72,400 shares of the credit services provider’s stock worth $508,000 after buying an additional 24,100 shares during the period. Finally, LSV Asset Management grew its position in shares of Medallion Financial by 1,438.4% during the 4th quarter. LSV Asset Management now owns 69,226 shares of the credit services provider’s stock worth $494,000 after buying an additional 64,726 shares in the last quarter. Institutional investors own 27.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MFIN. B. Riley raised their target price on shares of Medallion Financial from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. StockNews.com raised Medallion Financial from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th.

Medallion Financial Trading Up 4.3 %

Shares of MFIN opened at $10.24 on Monday. The firm’s fifty day moving average is $7.94 and its two-hundred day moving average is $7.64. The stock has a market cap of $238.80 million, a PE ratio of 4.70 and a beta of 2.05. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.47. Medallion Financial Corp. has a 52-week low of $5.64 and a 52-week high of $10.39.

Medallion Financial (NASDAQ:MFIN – Get Free Report) last issued its quarterly earnings data on Monday, July 24th. The credit services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.25. The company had revenue of $63.67 million during the quarter, compared to analyst estimates of $45.40 million. Medallion Financial had a return on equity of 13.63% and a net margin of 21.99%. During the same period in the prior year, the business posted $0.54 earnings per share. Research analysts forecast that Medallion Financial Corp. will post 2.19 earnings per share for the current fiscal year.

Medallion Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Tuesday, August 15th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 14th. This represents a $0.32 dividend on an annualized basis and a yield of 3.13%. Medallion Financial’s dividend payout ratio (DPR) is presently 14.68%.

Medallion Financial Company Profile

(Free Report)

Medallion Financial Corp., together with its subsidiaries, operates as a finance company in the United States. The company operates through four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Medallion Lending. It provides loans that finance consumer purchases of recreational vehicles, boats, and trailers; consumer home improvements; commercial businesses; and taxi medallions to individuals, and small to mid-size businesses.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Medallion Financial, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Medallion Financial wasn’t on the list.

While Medallion Financial currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Do you expect the global demand for energy to shrink?! If not, it’s time to take a look at how energy stocks can play a part in your portfolio.

Get This Free Report