Manhattan Bridge Capital (NASDAQ:LOAN) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note issued to investors on Monday. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Stock Down 0.7 %

NASDAQ:LOAN opened at $5.61 on Monday. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.90. The company has a fifty day simple moving average of $5.31 and a two-hundred day simple moving average of $5.22. The company has a market cap of $64.17 million, a price-to-earnings ratio of 11.22 and a beta of 0.58.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.12. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%. The firm had revenue of $2.44 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Tuesday, October 8th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 8.20%. Manhattan Bridge Capital’s payout ratio is 92.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. PDS Planning Inc acquired a new stake in shares of Manhattan Bridge Capital in the 1st quarter valued at $499,000. Beese Fulmer Investment Management Inc. acquired a new stake in Manhattan Bridge Capital in the second quarter valued at $436,000. Melia Wealth LLC purchased a new stake in Manhattan Bridge Capital during the 1st quarter worth about $315,000. North Star Investment Management Corp. acquired a new position in shares of Manhattan Bridge Capital during the 1st quarter worth about $234,000. Finally, Abacus Wealth Partners LLC increased its holdings in shares of Manhattan Bridge Capital by 288.7% in the 1st quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after acquiring an additional 41,752 shares during the last quarter. Hedge funds and other institutional investors own 21.84% of the company’s stock.

About Manhattan Bridge Capital

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.