Medallion Finacl Stock Price, News & Analysis

Medallion Bank (Nasdaq: MFIN) reported a net income of $18.3 million for Q3 2022, down from $19.7 million in the previous year. The bank's net interest income rose to $43.0 million with a net interest margin of 9.3%, compared to 10.1% last year. Total loan portfolio expanded 30.4% to $1.8 billion. However, provisions for loan losses increased to $8.2 million from a gain of $0.2 million the prior year, while annualized net charge-offs rose to 1.3%.

The recreation lending segment and home improvement lending portfolios saw notable growth of 24.9% and 44.2%, respectively.

Medallion Financial Corp. (NASDAQ: MFIN) reported Q3 2022 net income of $7.6 million ($0.32/share), down from $15.9 million ($0.64/share) year-over-year. Net interest income rose 23% to $42.0 million. Loan originations surged 40% to $273.7 million, while the loan loss provision stood at $10.0 million. The company declared a quarterly dividend of $0.08/share and repurchased $8.2 million worth of stock. Despite strong consumer lending growth, the company faced challenges in its commercial segment with fluctuating earnings.

Medallion Financial Corp. (NASDAQ: MFIN) will release its third quarter 2022 results on October 27, 2022, post-market. A conference call is scheduled for the following morning, October 28, at 9:00 a.m. Eastern time, to discuss the results. The call will be accessible via dial-in or live webcast, with replay options available until November 4. The company focuses on originating and servicing loans across various industries, particularly in recreation and home improvement. Medallion's headquarters is in New York City, with its main lending subsidiary based in Utah.

Medallion Financial Corp. (MFIN) announced robust second-quarter results for 2022, with net income soaring by 30% to $13.3 million, or $0.54 per share.

Net interest income increased by 32% to $38.9 million, while loan originations rose 45% to $305 million. Total assets surpassed $2 billion, reaching $2.1 billion. The company repurchased 1.27 million shares for $10 million and declared a dividend of $0.08 per share. Overall, the growth in lending across sectors and reduced charge-offs reflect strong financial health.

Medallion Bank (MFIN) reported its second quarter results for 2022, showcasing a net income of $17.9 million, up from $17.5 million year-over-year. Net interest income rose to $40 million with a margin of 9.5%. The total loan portfolio expanded by 28.5% to $1.6 billion, with assets totaling $1.8 billion. However, the provision for loan losses increased to $6 million from a benefit last year, with annualized charge-offs at 0.2%. The Board declared a quarterly cash dividend of $0.50 for Series F preferred stock, payable October 3, 2022.

Medallion Financial Corp. (NASDAQ: MFIN) will report its 2022 Q2 results post-market on July 27, 2022. A conference call is scheduled for July 28 at 9:00 a.m. ET, with dial-in options available. Investors can access the live webcast on the company's website. The earnings conference call will facilitate direct engagement with portfolio managers and analysts, enhancing institutional investor relations. Medallion Financial, based in New York City, originates and services loans across various sectors, including recreation and home improvement.

Medallion Bank (Nasdaq: MFIN) has finalized a deal with Covered Holdings to offer loans via the Covered Care patient financing program. This partnership aims to aid underserved Americans in securing healthcare financing through a buy now, pay later model. Covered Holdings, backed by Fortress Investment Group and Westlake Financial, emphasizes high approval rates and flexible options. Medallion's CEO expressed enthusiasm about leveraging innovative technologies to enhance financial accessibility.

Medallion Financial Corp. (NASDAQ: MFIN) announced its participation in the 3rd Annual Loop Capital Markets Investor Conference on June 1-2, 2022. The first day will feature virtual 1x1 and group meetings, while the second day will include in-person meetings at the Westin New York Times Square. Medallion management will be available for one-on-one discussions on June 2. Interested parties can contact their Loop Capital Markets representative or reach out to Medallion's Investor Relations for scheduling.

Medallion specializes in originating and servicing loans across various industries, including recreation and home improvement.

Medallion Financial Corp. (NASDAQ: MFIN) reported a 17% increase in net income for Q1 2022, totaling $9.8 million, or $0.39 per share, up from $8.4 million, or $0.34 per share in Q1 2021. Net interest income rose 25% to $35.9 million, while loan originations surged 44% to $213.7 million. The recreation loan portfolio surpassed $1 billion. The company reinstated a cash dividend of $0.08 per share and repurchased 67,660 shares at an average price of $9.12. Low charge-offs and improved delinquencies were noted, with net charge-offs at $2.7 million.