Medallion Financial Corp. (MFIN) Hits New 12-Month Low at $5.15
Shares of Medallion Financial Corp. (NASDAQ:MFIN) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.15 and last traded at $5.16, with a volume of 71,760 shares trading hands. The stock had previously closed at $5.27.
Several analysts recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed 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 cut shares of Medallion Financial Corp. from a “buy” rating to a “hold” rating and cut their price target for the company from $12.00 to $6.50 in a report on Wednesday, August 10th.
The firm has a 50 day moving average price of $7.00 and a 200 day moving average price of $7.66. The firm has a market cap of $124.92 million and a P/E ratio of 4.91.
Medallion Financial Corp. (NASDAQ:MFIN) last posted its earnings results on Tuesday, August 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by $0.06. Equities analysts anticipate 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. The ex-dividend date of this dividend is Monday, August 22nd. This represents a $0.20 annualized dividend and a dividend yield of 3.88%.
In related news, President Andrew Murstein bought 10,000 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was bought at an average cost of $5.49 per share, for a total transaction of $54,900.00. Following the transaction, the president now owns 225,335 shares of the company’s stock, valued at $1,237,089.15. The transaction was disclosed in a document filed with the SEC, which is available 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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