Marlin Business Services Corp. (NASDAQ:MRLN) Position Increased by American International Group Inc.
American International Group Inc. increased its position in shares of Marlin Business Services Corp. (NASDAQ:MRLN) by 7.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,102 shares of the financial services provider’s stock after buying an additional 339 shares during the period. American International Group Inc.’s holdings in Marlin Business Services Corp. were worth $131,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. TFS Capital LLC acquired a new position in shares of Marlin Business Services Corp. during the first quarter valued at approximately $210,000. Trexquant Investment LP purchased a new stake in shares of Marlin Business Services Corp. during the first quarter valued at about $274,000. Oxford Asset Management purchased a new stake in shares of Marlin Business Services Corp. during the first quarter valued at about $446,000. Nationwide Fund Advisors raised its stake in shares of Marlin Business Services Corp. by 47.2% in the first quarter. Nationwide Fund Advisors now owns 17,345 shares of the financial services provider’s stock valued at $447,000 after buying an additional 5,559 shares in the last quarter. Finally, EAM Investors LLC purchased a new stake in shares of Marlin Business Services Corp. during the first quarter valued at about $701,000. 77.86% of the stock is owned by institutional investors and hedge funds.
Shares of Marlin Business Services Corp. (MRLN) opened at 25.45 on Tuesday. The company’s 50 day moving average price is $25.24 and its 200 day moving average price is $24.65. The stock has a market capitalization of $311.56 million, a PE ratio of 21.16 and a beta of 1.31. Marlin Business Services Corp. has a 52-week low of $17.05 and a 52-week high of $26.70.
Marlin Business Services Corp. announced that its Board of Directors has approved a share repurchase program on Tuesday, May 30th that authorizes the company to repurchase $10.00 million in outstanding shares. This repurchase authorization authorizes the financial services provider to buy up to 3.2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Monday, August 7th will be paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Thursday, August 3rd. This is an increase from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. Marlin Business Services Corp.’s payout ratio is presently 46.28%.
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Several brokerages have issued reports on MRLN. ValuEngine raised Marlin Business Services Corp. from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research upgraded Marlin Business Services Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a report on Thursday, August 3rd. Finally, BidaskClub upgraded Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.50.
Marlin Business Services Corp. Company Profile
Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.
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