Manhattan Bridge Capital (NASDAQ:LOAN) Releases Earnings Results, Meets Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) announced its quarterly earnings data on Wednesday. The credit services provider reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11, FiscalAI reports. Manhattan Bridge Capital had a net margin of 58.30% and a return on equity of 11.02%. The firm had revenue of $0.00 million during the quarter, compared to analyst estimates of $2.04 million.

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN traded down $0.03 during midday trading on Wednesday, reaching $3.39. 9,669 shares of the company’s stock were exchanged, compared to its average volume of 31,126. The stock has a market cap of $38.73 million, a price-to-earnings ratio of 8.07 and a beta of 0.20. The firm’s 50 day simple moving average is $3.88 and its two-hundred day simple moving average is $4.18. Manhattan Bridge Capital has a fifty-two week low of $3.31 and a fifty-two week high of $5.27.

Manhattan Bridge Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Thursday, October 8th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 13.0%. The ex-dividend date of this dividend was Thursday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 104.76%.

Insider Buying and Selling at Manhattan Bridge Capital

In related news, CEO Assaf Ran purchased 8,000 shares of Manhattan Bridge Capital stock in a transaction dated Tuesday, July 28th. The shares were acquired at an average cost of $3.99 per share, with a total value of $31,920.00. Following the purchase, the chief executive officer owned 1,235,000 shares of the company’s stock, valued at approximately $4,927,650. The trade was a 0.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 24.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LOAN. Weiss Ratings downgraded shares of Manhattan Bridge Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Zacks Research raised shares of Manhattan Bridge Capital to a “hold” rating in a research note on Monday, October 5th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Manhattan Bridge Capital presently has a consensus rating of “Reduce”.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc (NASDAQ:LOAN) is a real estate finance company that originates, services and manages short-term, first-mortgage loans. Its loans are generally secured by residential real estate and are designed to provide financing for property acquisitions, renovations, development and other real estate-related purposes.

The company primarily serves real estate investors and developers seeking financing that may not be available through traditional lending channels. Its lending activities have historically been concentrated in the New York metropolitan area and other selected markets, with an emphasis on collateral-based underwriting and short-term loan structures.

Manhattan Bridge Capital was founded in 2003 and is headquartered in Great Neck, New York.