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

StockNews.com began coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a report published on Monday morning. The firm issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

Shares of NASDAQ:LOAN opened at $5.94 on Monday. Manhattan Bridge Capital has a 1 year low of $4.89 and a 1 year high of $6.05. The business’s 50-day moving average is $5.65 and its 200-day moving average is $5.53. The company has a market capitalization of $67.95 million, a price-to-earnings ratio of 12.12 and a beta of 0.26.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its earnings results on Wednesday, March 12th. The credit services provider reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). The business had revenue of $2.36 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 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Tuesday, April 8th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, April 8th. This represents a $0.46 annualized dividend and a dividend yield of 7.74%. Manhattan Bridge Capital’s dividend payout ratio is currently 95.83%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings in shares of Manhattan Bridge Capital by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 113,918 shares of the credit services provider’s stock worth $635,000 after acquiring an additional 3,008 shares during the last quarter. Soltis Investment Advisors LLC bought a new stake in Manhattan Bridge Capital during the 3rd quarter worth approximately $14,758,000. Atria Wealth Solutions Inc. raised its stake in shares of Manhattan Bridge Capital by 13.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 27,885 shares of the credit services provider’s stock worth $159,000 after purchasing an additional 3,324 shares during the last quarter. Fortress Financial Solutions LLC bought a new position in shares of Manhattan Bridge Capital in the fourth quarter valued at approximately $685,000. Finally, OLIO Financial Planning purchased a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at approximately $117,000. Institutional investors own 21.84% of the company’s stock.

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.