Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

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

Manhattan Bridge Capital Trading Down 0.2 %

Manhattan Bridge Capital stock opened at $5.47 on Tuesday. The firm has a market capitalization of $62.57 million, a price-to-earnings ratio of 11.16 and a beta of 0.57. Manhattan Bridge Capital has a 12-month low of $4.60 and a 12-month high of $5.90. The firm has a 50 day moving average of $5.43 and a 200 day moving average of $5.32.

Manhattan Bridge Capital (NASDAQ:LOAN) last issued its quarterly earnings results 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. Manhattan Bridge Capital had a return on equity of 13.06% and a net margin of 56.93%. The business had revenue of $2.31 million during the quarter.

Manhattan Bridge Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.41%. The ex-dividend date is Tuesday, December 31st. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 93.88%.

Institutional Trading of Manhattan Bridge Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Soltis Investment Advisors LLC bought a new position in shares of Manhattan Bridge Capital during the 3rd quarter valued at about $14,758,000. Geode Capital Management LLC raised its holdings 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 acquiring an additional 3,008 shares in the last quarter. Beese Fulmer Investment Management Inc. grew its holdings in shares of Manhattan Bridge Capital by 53.4% in the third quarter. Beese Fulmer Investment Management Inc. now owns 129,981 shares of the credit services provider’s stock valued at $724,000 after purchasing an additional 45,222 shares in the last quarter. International Assets Investment Management LLC raised its stake in Manhattan Bridge Capital by 441.5% during 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. Finally, B. Riley Wealth Advisors Inc. lifted its position in Manhattan Bridge Capital by 35.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 23,250 shares of the credit services provider’s stock valued at $120,000 after purchasing an additional 6,117 shares during the last quarter. 21.84% of the stock is currently owned by institutional investors.

About Manhattan Bridge Capital

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.