Medallion Financial Corp. (MFIN) Reaches New 52-Week Low at $4.95
Shares of Medallion Financial Corp. (NASDAQ:MFIN) hit a new 52-week low during trading 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 commented on MFIN. Sandler O’Neill lowered Medallion Financial Corp. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $12.00 to $6.50 in a research note on Wednesday, August 10th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $8.00 price target (down previously from $9.75) on shares of Medallion Financial Corp. in a research note on Monday, July 11th.
The firm has a market capitalization of $118.14 million and a P/E ratio of 4.65. The company has a 50 day moving average price of $6.72 and a 200 day moving average price of $7.62.
Medallion Financial Corp. (NASDAQ:MFIN) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by $0.06. On average, equities research analysts expect that Medallion Financial Corp. will post $0.85 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 31st. Stockholders of record on Wednesday, August 24th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Monday, August 22nd.
In related news, President Andrew Murstein bought 10,000 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were purchased at an average price of $5.49 per share, with a total value of $54,900.00. Following the transaction, the president now owns 225,335 shares in the company, valued at approximately $1,237,089.15. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
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.
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