Manhattan Bridge Capital (NASDAQ:LOAN) Coverage Initiated by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research note published on Friday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

LOAN opened at $5.45 on Friday. The company has a market capitalization of $62.34 million, a price-to-earnings ratio of 11.12 and a beta of 0.55. The business’s 50-day moving average price is $5.47 and its two-hundred day moving average price is $5.37. Manhattan Bridge Capital has a 1 year low of $4.60 and a 1 year high of $5.90.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings data on Wednesday, October 23rd. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $2.31 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%.

Manhattan Bridge Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 8.44%. The ex-dividend date of this dividend is Tuesday, December 31st. Manhattan Bridge Capital’s payout ratio is 93.88%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LOAN. Soltis Investment Advisors LLC bought a new position in shares of Manhattan Bridge Capital in the 3rd quarter valued at about $14,758,000. Renaissance Technologies LLC grew its stake in Manhattan Bridge Capital by 13.3% in the second quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock valued at $963,000 after purchasing an additional 21,950 shares in the last quarter. International Assets Investment Management LLC grew its stake in Manhattan Bridge Capital by 441.5% in the third quarter. International Assets Investment Management LLC now owns 146,682 shares of the credit services provider’s stock valued at $817,000 after purchasing an additional 119,595 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Manhattan Bridge Capital by 53.4% during the 3rd quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock worth $724,000 after purchasing an additional 45,222 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Manhattan Bridge Capital by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after purchasing an additional 3,008 shares in the last quarter. 21.84% of the stock is currently owned by institutional investors and hedge funds.

Manhattan Bridge Capital Company Profile

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.