Medallion Finacl Stock Price, News & Analysis

Medallion Bank reported a strong performance for Q4 and the full year of 2021, achieving a record net income of $70.0 million, significantly up from $2.5 million in 2020. Q4 net income reached $19.0 million, with net interest income of $37.3 million. The bank’s total assets were $1.5 billion, and it maintained a solid Tier 1 leverage ratio of 17.5%. In addition, a quarterly dividend of $0.50 per share was declared on Series F Preferred Stock, payable on April 1, 2022.

Federman & Sherwood is investigating Medallion Financial Corp. (NASDAQ:MFIN) for potential violations of securities laws, following a complaint from the SEC on December 29, 2021. The SEC alleges that the company and its executives misled investors to manipulate the stock price, breaching antifraud and internal control laws. As a result of this news, Medallion's shares plummeted over 21% on the same day. Shareholders who incurred losses are encouraged to participate in the inquiry.

Medallion Financial (NASDAQ: MFIN) announced the complete divestiture of its NASCAR team, Richard Petty Motorsports (RPAC), to Warp Speed, LLC, for $19.1 million in gross proceeds. This transaction eliminates $26 million in intangible assets from the company’s balance sheet and boosts its tangible book value by over $1 per share. The company has a history of over $9 billion in loans since its IPO in 1996. CEO Andrew Murstein highlighted the successes achieved during their tenure with RPAC, including increased diversity in motorsports.

Medallion Financial Corp. (NASDAQ: MFIN) reported a significant turnaround in its 2021 third quarter results, achieving a net income of $15.9 million ($0.64 per share) versus a loss of $23.6 million in the same period last year. Net interest income grew by 17% to $34.1 million, and loan originations surged 43% to $195.8 million. The net interest margin reached 9.48%. Additionally, the company recorded historically low net charge-offs and strong performance in consumer lending, bolstering its overall growth strategy.

Medallion Bank (Nasdaq: MBNKP) reported third-quarter 2021 results highlighting record net income of $19.7 million, a significant increase from a $13.2 million loss in the previous year. Net interest income rose to $35.3 million, with a loan loss benefit of $0.2 million. The recreation and home improvement loan portfolios grew by 15.9% and 26.4%, respectively. The Bank declared a $0.50

Medallion Financial Corp. (NASDAQ: MFIN) announced it will release its 2021 third quarter results on November 1, 2021, following market closure. A conference call to discuss these results is scheduled for November 2, 2021, at 9:00 a.m. ET. Investors can join the call by dialing (877) 407-0789. A live webcast will be available on the company's website. Additionally, Medallion Financial will host individual meetings with institutional investors starting November 3, 2021. The company has lent over $9 billion since its IPO in 1996.

Medallion Financial Corp. (NASDAQ: MFIN) announced participation in the virtual Colliers Securities Institutional Investor Conference on September 9, 2021. Senior management will be available for one-on-one meetings, and interested parties can schedule these through their Colliers representative or by contacting Medallion's Investor Relations at InvestorRelations@medallion.com. The company has a strong financial background, having loaned over $9 billion since its IPO in 1996, with $1.8 billion in assets under management as of June 30, 2021.

Medallion Financial Corp. (NASDAQ: MFIN) reported robust financial results for Q2 2021 with a net income of $10.3 million, or $0.41 per share, reversing a loss from the previous year. Medallion Bank achieved record net income of $17.5 million. Net interest income rose by 10.1% to $29.5 million, while the net consumer loan portfolio grew to $1.2 billion. Delinquencies decreased to 0.23% of total loans. The company is focused on growing its consumer business and managing risk amid a successful quarter.

Medallion Bank (Nasdaq: MBNKP) reported a record net income of $17.5 million for Q2 2021, up from $1.8 million in the same period last year. Net interest income also rose to $33.1 million, compared to $28.1 million in the prior year. The bank's total assets reached $1.4 billion, with a Tier 1 leverage ratio of 18.09%. Additionally, a quarterly cash dividend of $0.50 per share was declared, payable on October 1, 2021.