Medallion Financial Corp. (MFIN) to Issue Quarterly Dividend of $0.11 on November 27th

Medallion Financial Corp. (NASDAQ:MFIN) announced a quarterly dividend on Friday, October 25th,NASDAQ Dividends reports. Stockholders of record on Friday, November 15th will be paid 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 4.57%. The ex-dividend date is Friday, November 15th. This is an increase from Medallion Financial’s previous quarterly dividend of $0.10.

Medallion Financial has a payout ratio of 24.7% indicating that its dividend is sufficiently covered by earnings. 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 Price Performance

Shares of NASDAQ:MFIN opened at $9.62 on Wednesday. The company’s fifty day moving average price is $8.51 and its 200 day moving average price is $8.16. Medallion Financial has a 12 month low of $6.48 and a 12 month high of $10.19. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $221.93 million, a P/E ratio of 5.69 and a beta of 2.12.

Medallion Financial (NASDAQ:MFIN) last announced its quarterly earnings results on Tuesday, October 29th. The credit services provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. Medallion Financial had a net margin of 13.72% and a return on equity of 9.52%. The firm had revenue of $77.00 million for the quarter, compared to analyst estimates of $52.88 million. During the same period last year, the business earned $0.48 EPS. As a group, sell-side analysts predict that Medallion Financial will post 1.48 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Medallion Financial Company Profile

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.