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

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Friday, October 25th,NASDAQ Dividends reports. Investors 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 4.52%. The ex-dividend date is Friday, November 15th. This is a positive change from Medallion Financial’s previous quarterly dividend of $0.10.

Medallion Financial has a dividend payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Medallion Financial to earn $1.78 per share next year, which means the company should continue to be able to cover its $0.44 annual dividend with an expected future payout ratio of 24.7%.

Medallion Financial Stock Performance

MFIN opened at $9.73 on Thursday. The firm has a 50 day moving average of $8.55 and a two-hundred day moving average of $8.17. The firm has a market capitalization of $224.47 million, a PE ratio of 5.76 and a beta of 2.12. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.54. Medallion Financial has a 12-month low of $6.48 and a 12-month high of $10.19.

Medallion Financial (NASDAQ:MFIN) last posted its 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. The company had revenue of $77.00 million during the quarter, compared to the consensus estimate of $52.88 million. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. During the same period in the previous year, the firm posted $0.48 earnings per share. On average, analysts anticipate that Medallion Financial will post 1.48 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com downgraded Medallion Financial from a “buy” rating to a “hold” rating in a report on Friday, November 8th.

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.