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MFIN Medallion Financial News Story

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Brief: Medallion Financial Q2 EPS USD 0.46

Overview

Medallion Q2 net income rises 56% yr/yr to $11.1 mln

Loan originations grow to $375 mln, driven by strategic partnerships

Co repurchased 48,166 shares, and paid dividend of $0.12 per share

Outlook

Company sees continued growth in strategic partnership loan originations

Medallion Financial expects future gains from equity investments

Company believes it is well-positioned for future growth

Result Drivers

STRATEGIC PARTNERSHIPS - Loan originations through strategic partnerships surged to $168.6 mln, significantly contributing to overall growth

COMMERCIAL LENDING - Commercial division generated net gains from equity investments, totaling $6.1 mln for the quarter

INTEREST INCOME - Higher interest income supported by growth in recreation and home improvement lending segments

Key Details

MetricBeat/MissActualConsensus Estimate
Q2 EPS$0.46
Q2 Dividend$0.12
Analyst Coverage The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell" The average consensus recommendation for the banks peer group is "buy." Wall Street's median 12-month price target for Medallion Financial Corp is $11.00, about 6.8% above its July 29 closing price of $10.25 The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 5 three months ago Press Release: ID:nGNXbFYft4 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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