Medallion Financial Posts Q3 EPS of $0.10, Net Income $2.4M
MFIN sits 49% above its 52-week low of $7.85.
Summary
Medallion Financial reported Q3 EPS of $0.10 and net income of $2.4 million, with net interest income of $58.4 million and a net interest margin of 7.34%. The profit dropped on higher credit loss provisions, while loan originations rose 41% year over year. The company declared a quarterly dividend of $0.14. The results land after a Q1 that saw a sharp drop in net income driven by lower equity investment gains, so this quarter's profit level is the key read on whether that pressure has stabilized. The stock is trading near its 52-week high, which raises the bar for these numbers.
At the time of this announcement, MFIN was trading at $11.68 on NASDAQ in the Finance sector, with a market capitalization of approximately $268.2M. The 52-week trading range was $7.85 to $12.26. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.