Medallion Financial Corp. (MFIN) Reaches New 1-Year Low at $4.95
Medallion Financial Corp. (NASDAQ:MFIN)’s share price hit a new 52-week low on Wednesday . The company traded as low as $4.95 and last traded at $5.00, with a volume of 54,973 shares. The stock had previously closed at $5.00.
A number of brokerages recently weighed in on MFIN. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $8.00 price target (down from $9.75) on shares of Medallion Financial Corp. in a report on Monday, July 11th. Sandler O’Neill downgraded shares of Medallion Financial Corp. from a “buy” rating to a “hold” rating and cut their price target for the stock from $12.00 to $6.50 in a report on Wednesday, August 10th.
The stock’s 50 day moving average price is $6.87 and its 200 day moving average price is $7.66. The stock has a market cap of $121.53 million and a price-to-earnings ratio of 4.78.
Medallion Financial Corp. (NASDAQ:MFIN) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by $0.06. On average, equities analysts anticipate that Medallion Financial Corp. will post $0.85 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 24th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 4.00%.
In related news, President Andrew Murstein purchased 10,000 shares of Medallion Financial Corp. stock in a transaction dated Thursday, August 11th. The stock was purchased at an average cost of $5.49 per share, for a total transaction of $54,900.00. Following the completion of the acquisition, the president now directly owns 225,335 shares of the company’s stock, valued at $1,237,089.15. The acquisition was disclosed in a legal filing with the SEC, which is available at this link.
Medallion Financial Corp. is a closed-end, non-diversified management investment company. The Company is a specialty finance company, which is engaged in originating, acquiring and servicing loans that finance taxicab medallions and various types of commercial businesses. The Company operates in lending and investing operations segment.