Medallion Financial Corp. (NASDAQ:MFIN) to Issue $0.11 Quarterly Dividend

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Tuesday, October 29th, NASDAQ reports. Stockholders of record on Friday, November 15th will be given a dividend of 0.11 per share by the credit services provider on Wednesday, November 27th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend is Friday, November 15th.

Medallion Financial has a payout ratio of 22.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Medallion Financial to earn $1.80 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 22.2%.

Medallion Financial Price Performance

Shares of NASDAQ MFIN opened at $9.37 on Thursday. The company has a 50 day moving average of $8.17 and a 200 day moving average of $8.04. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Medallion Financial has a twelve month low of $6.48 and a twelve month high of $10.14. The firm has a market cap of $217.10 million, a P/E ratio of 5.21 and a beta of 2.14.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Medallion Financial had a return on equity of 10.35% and a net margin of 14.97%. The firm had revenue of $77.00 million for the quarter, compared to the consensus estimate of $52.88 million. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts expect that Medallion Financial will post 1.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Medallion Financial from a “hold” rating to a “buy” rating in a research report on Monday.

About Medallion Financial

Medallion Financial Corp., together with its subsidiaries, operates as a specialty finance company in the United States. It operates in four segments: Recreation Lending, Home Improvement Lending, Commercial Lending, and Taxi Medallion Lending. The company offers loans that finance consumer purchases of recreational vehicles, boats, and other consumer recreational equipment; consumer financing for window, siding, and roof replacement, swimming pool installations, and other home improvement projects; senior and subordinated loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business; and taxi medallion loans to individuals and small to mid-size businesses.