StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

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

Manhattan Bridge Capital Stock Up 0.2 %

Shares of NASDAQ:LOAN opened at $5.42 on Friday. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.59. The stock has a market cap of $62.00 million, a price-to-earnings ratio of 10.84 and a beta of 0.58. The business has a 50-day moving average price of $5.25 and a 200-day moving average price of $5.15.

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

Manhattan Bridge Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a $0.115 dividend. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 dividend on an annualized basis and a yield of 8.49%. Manhattan Bridge Capital’s dividend payout ratio is currently 92.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Institutional investors have recently modified their holdings of the company. B. Riley Wealth Advisors Inc. grew its stake in shares of Manhattan Bridge Capital by 67.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after buying an additional 6,923 shares in the last quarter. Virtu Financial LLC acquired a new position in Manhattan Bridge Capital during the 1st quarter worth $69,000. Waddell & Associates LLC grew its stake in Manhattan Bridge Capital by 3.9% during the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after purchasing an additional 2,861 shares in the last quarter. PDS Planning Inc acquired a new position in Manhattan Bridge Capital during the 1st quarter worth $499,000. Finally, Melia Wealth LLC acquired a new position in Manhattan Bridge Capital during the 1st quarter worth $315,000. 21.84% of the stock is 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.