Medallion Financial Corp. (NASDAQ:MFIN) Stock Has Consensus Target Price of $12.62

Shares of Medallion Financial Corp. (NASDAQ:MFIN) have been assigned a consensus recommendation of “Reduce” from the five research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $12.62.

MFIN has been the subject of several recent research reports. UBS Group reiterated a “neutral” rating on shares of Medallion Financial in a research note on Friday, October 2nd. Piper Sandler reiterated a “neutral” rating and set a $12.00 target price (up from $10.50) on shares of Medallion Financial in a research report on Friday, October 2nd. Weiss Ratings raised Medallion Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, October 14th. Zacks Research cut shares of Medallion Financial from a “strong-buy” rating to a “strong sell” rating in a research report on Monday, October 5th. Finally, Northland Securities set a $13.25 price objective on shares of Medallion Financial in a research note on Wednesday, October 14th.

Medallion Financial Trading Down 1.5%

MFIN stock opened at $11.25 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.21 and a current ratio of 1.22. The company’s 50-day simple moving average is $11.74 and its 200 day simple moving average is $10.26. Medallion Financial has a 52 week low of $7.85 and a 52 week high of $12.26. The company has a market capitalization of $258.30 million, a PE ratio of 8.46 and a beta of 0.79.

Medallion Financial (NASDAQ:MFIN) last released its quarterly earnings results on Wednesday, July 29th. The credit services provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Medallion Financial had a net margin of 9.25% and a return on equity of 7.11%. The business had revenue of $84.38 million for the quarter, compared to analyst estimates of $58.98 million. As a group, sell-side analysts anticipate that Medallion Financial will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Medallion Financial

A number of hedge funds have recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of Medallion Financial during the second quarter worth $12,450,000. Tieton Capital Management LLC acquired a new stake in shares of Medallion Financial during the 2nd quarter valued at $10,297,000. Sei Investments Co. boosted its holdings in shares of Medallion Financial by 124.0% during the 1st quarter. Sei Investments Co. now owns 490,972 shares of the credit services provider’s stock valued at $4,203,000 after acquiring an additional 271,789 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Medallion Financial during the 2nd quarter worth $2,057,000. Finally, De Lisle Partners LLP bought a new stake in Medallion Financial during the 2nd quarter worth $2,027,000. 40.56% of the stock is currently owned by institutional investors and hedge funds.

About Medallion Financial

Medallion Financial Corp. is a specialty finance company that originates and services loans for taxi medallion owners and operators. Its lending activities have historically focused on financing the purchase and refinancing of taxi medallions, as well as providing loans secured by related commercial assets.

Through its subsidiaries, including Medallion Bank, the company also participates in consumer and commercial lending. Medallion Bank has offered financing for recreational vehicles, boats, home-improvement projects and other consumer purchases, while the company’s broader lending operations serve small businesses and transportation-related borrowers.

Founded in 1995 and headquartered in New York, Medallion Financial has built its business around specialized lending markets that are often served by fewer traditional financial institutions.