Marlin Business Services Corp. (NASDAQ:MRLN)’s share price reached a new 52-week high during trading on Tuesday . The company traded as high as $27.05 and last traded at $27.05, with a volume of 11,468 shares traded. The stock had previously closed at $26.55.

A number of equities analysts have commented on MRLN shares. ValuEngine cut shares of Marlin Business Services Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Zacks Investment Research raised shares of Marlin Business Services Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 price objective for the company in a research report on Thursday, August 3rd. Finally, BidaskClub cut shares of Marlin Business Services Corp. from a “hold” rating to a “sell” rating in a research report on Monday, July 24th.

The stock’s 50 day moving average price is $25.64 and its 200 day moving average price is $25.20. The firm has a market capitalization of $333.55 million, a P/E ratio of 22.58 and a beta of 1.30.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Shareholders of record on Monday, August 7th were paid a $0.14 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.56 annualized dividend and a yield of 2.05%. This is an increase from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. Marlin Business Services Corp.’s dividend payout ratio (DPR) is currently 46.28%.

Marlin Business Services Corp. declared that its Board of Directors has approved a stock repurchase program on Tuesday, May 30th that authorizes the company to repurchase $10.00 million in 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 generally an indication that the company’s leadership believes its shares are undervalued.

In other Marlin Business Services Corp. news, Director James W. Wert sold 2,980 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $25.42, for a total value of $75,751.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Edward Ralph Jr. Dietz sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $25.01, for a total value of $75,030.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,765 shares of company stock valued at $170,799. 6.94% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. boosted its stake in Marlin Business Services Corp. by 31.9% in the 1st quarter. Russell Investments Group Ltd. now owns 54,781 shares of the financial services provider’s stock worth $1,410,000 after purchasing an additional 13,263 shares during the period. LSV Asset Management boosted its stake in Marlin Business Services Corp. by 4.3% in the 1st quarter. LSV Asset Management now owns 77,700 shares of the financial services provider’s stock worth $2,000,000 after purchasing an additional 3,200 shares during the period. Vanguard Group Inc. boosted its stake in Marlin Business Services Corp. by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 344,659 shares of the financial services provider’s stock worth $8,875,000 after purchasing an additional 11,716 shares during the period. Prudential Financial Inc. boosted its stake in Marlin Business Services Corp. by 5.1% in the 1st quarter. Prudential Financial Inc. now owns 54,021 shares of the financial services provider’s stock worth $1,391,000 after purchasing an additional 2,600 shares during the period. Finally, John W. Rosenthal Capital Management Inc. bought a new position in Marlin Business Services Corp. in the 2nd quarter worth about $485,000. Institutional investors and hedge funds own 79.11% of the company’s stock.

WARNING: This report was published by Daily Political and is owned by of Daily Political. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://www.dailypolitical.com/2017/09/07/marlin-business-services-corp-mrln-sets-new-12-month-high-at-27-05.html.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.