Medallion Financial Corp. (NASDAQ:MFIN) to Post Q1 2024 Earnings of $0.39 Per Share, B. Riley Forecasts

Medallion Financial Corp. (NASDAQ:MFINFree Report) – Equities researchers at B. Riley lowered their Q1 2024 earnings estimates for shares of Medallion Financial in a report issued on Wednesday, April 3rd. B. Riley analyst M. Howlett now anticipates that the credit services provider will post earnings per share of $0.39 for the quarter, down from their previous estimate of $0.46. The consensus estimate for Medallion Financial’s current full-year earnings is $1.60 per share. B. Riley also issued estimates for Medallion Financial’s Q2 2024 earnings at $0.42 EPS, Q3 2024 earnings at $0.46 EPS, Q4 2024 earnings at $0.49 EPS, FY2024 earnings at $1.75 EPS, Q1 2025 earnings at $0.49 EPS, Q2 2025 earnings at $0.52 EPS, Q3 2025 earnings at $0.54 EPS, Q4 2025 earnings at $0.58 EPS and FY2025 earnings at $2.13 EPS.

Medallion Financial (NASDAQ:MFINGet Free Report) last posted its earnings results on Tuesday, February 20th. The credit services provider reported $0.60 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.01). Medallion Financial had a return on equity of 14.02% and a net margin of 20.99%. The business had revenue of $52.01 million for the quarter, compared to the consensus estimate of $54.89 million.

Separately, StockNews.com downgraded Medallion Financial from a “buy” rating to a “hold” rating in a report on Monday, March 11th.

View Our Latest Stock Report on Medallion Financial

Medallion Financial Stock Performance

Shares of MFIN opened at $8.01 on Thursday. Medallion Financial has a 52 week low of $5.64 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.20 and a current ratio of 1.20. The stock has a 50 day moving average price of $8.62 and a two-hundred day moving average price of $8.57. The firm has a market capitalization of $188.07 million, a P/E ratio of 3.38 and a beta of 2.06.

Medallion Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 4.99%. Medallion Financial’s dividend payout ratio is currently 16.88%.

Institutional Investors Weigh In On Medallion Financial

Several large investors have recently made changes to their positions in the business. Advisor Group Holdings Inc. raised its stake in shares of Medallion Financial by 35.9% in the first quarter. Advisor Group Holdings Inc. now owns 30,264 shares of the credit services provider’s stock valued at $257,000 after buying an additional 8,000 shares during the period. JPMorgan Chase & Co. raised its stake in Medallion Financial by 100.8% in the 1st quarter. JPMorgan Chase & Co. now owns 32,197 shares of the credit services provider’s stock valued at $273,000 after acquiring an additional 16,161 shares during the period. Citigroup Inc. purchased a new stake in Medallion Financial during the first quarter valued at about $239,000. Vanguard Group Inc. raised its position in shares of Medallion Financial by 3.2% in the first quarter. Vanguard Group Inc. now owns 938,516 shares of the credit services provider’s stock valued at $7,978,000 after purchasing an additional 29,247 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Medallion Financial by 115.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 64,829 shares of the credit services provider’s stock valued at $551,000 after purchasing an additional 34,704 shares during the period. 40.56% of the stock is owned by hedge funds and other institutional investors.

Medallion Financial Company Profile

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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.

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Earnings History and Estimates for Medallion Financial (NASDAQ:MFIN)

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