Zacks: Brokerages Set $10.67 Target Price for Medallion Financial Corp (MFIN)

Shares of Medallion Financial Corp (NASDAQ:MFIN) have been assigned a consensus broker rating score of 1.00 (Strong Buy) from the three analysts that provide coverage for the company, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy recommendation.

Brokers have set a 12-month consensus price objective of $10.67 for the company and are predicting that the company will post $0.05 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Medallion Financial an industry rank of 68 out of 256 based on the ratings given to related companies.

MFIN has been the topic of a number of recent research reports. Northland Securities reaffirmed a “buy” rating and set a $12.00 price objective on shares of Medallion Financial in a research report on Tuesday, May 7th. ValuEngine lowered Medallion Financial from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 25th. B. Riley set a $10.00 target price on Medallion Financial and gave the company a “buy” rating in a report on Thursday, February 28th. BTIG Research assumed coverage on Medallion Financial in a report on Friday, February 22nd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Zacks Investment Research raised Medallion Financial from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 16th.

A number of large investors have recently bought and sold shares of MFIN. Morgan Stanley boosted its holdings in Medallion Financial by 25.5% in the third quarter. Morgan Stanley now owns 419,804 shares of the credit services provider’s stock worth $2,792,000 after acquiring an additional 85,326 shares in the last quarter. B. Riley Financial Inc. boosted its holdings in Medallion Financial by 107.4% in the fourth quarter. B. Riley Financial Inc. now owns 207,350 shares of the credit services provider’s stock worth $972,000 after acquiring an additional 107,350 shares in the last quarter. Seacliff Capital LLC bought a new stake in Medallion Financial in the fourth quarter worth $528,000. Millennium Management LLC bought a new stake in Medallion Financial in the fourth quarter worth $234,000. Finally, Deutsche Bank AG boosted its holdings in Medallion Financial by 93.6% in the fourth quarter. Deutsche Bank AG now owns 35,685 shares of the credit services provider’s stock worth $166,000 after acquiring an additional 17,255 shares in the last quarter. 15.46% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Medallion Financial stock traded down $0.03 during trading hours on Thursday, reaching $7.49. 4,751 shares of the company were exchanged, compared to its average volume of 90,385. Medallion Financial has a 1 year low of $3.75 and a 1 year high of $7.80. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $184.44 million, a P/E ratio of -13.87 and a beta of 1.71.

Medallion Financial (NASDAQ:MFIN) last posted its quarterly earnings data on Monday, May 6th. The credit services provider reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. Medallion Financial had a negative return on equity of 3.14% and a negative net margin of 5.09%. The business had revenue of $29.18 million for the quarter, compared to analyst estimates of $26.71 million. Sell-side analysts predict that Medallion Financial will post 0.42 earnings per share for the current year.

Medallion Financial Company Profile

Medallion Financial Corp., through with its subsidiaries, operates as a finance company in the United States. It originates, acquires, and services loans that finance taxicab medallions and various types of commercial businesses. The company offers consumer loans for the purchase of recreational vehicles, boats, motorcycles, and trailers, as well as to finance small scale home improvements; and commercial loans for the purchase of equipment and related assets necessary to open a new business, or purchase or improvement of an existing business.

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