Medallion Finacl Stock Price, News & Analysis

Medallion Financial Corp. (Nasdaq: MFIN) will report its 2021 first quarter results on May 3, 2021, after market close. A conference call to discuss these results is scheduled for May 4, 2021, at 9:00 a.m. ET. Participants can join via telephone at (877) 407-0789 (toll-free) or (201) 689-8562 (direct), and are advised to dial in 10 minutes early. A live webcast will also be available on the company's website. A replay of the call will be accessible until May 11, 2021. Medallion has originated over $9 billion in loans since its 1996 IPO.

Medallion Financial Corp. (MFIN) announced that Medallion Bank (MBNKP) has signed a definitive agreement with ClearGage, LLC to offer loan origination services. ClearGage's technology platform will facilitate point-of-sale consumer finance programs, focusing on the healthcare and wellness sectors. Donald Poulton, CEO of Medallion Bank, expressed enthusiasm for the partnership, highlighting compliance and credit risk management advantages. ClearGage CEO Derek Barclay noted the collaboration aims to enhance patient solutions, boost patient volumes, and optimize collections.

Medallion Financial Corp. (MFIN) has successfully completed a private placement of $25 million in fixed-rate senior unsecured notes, maturing on February 26, 2026, with a 7.25% annual interest rate. This follows a previous placement of $39.1 million in late 2020 and early 2021. The notes received an investment grade rating of A minus from Egan-Jones. Proceeds from this offering will be used for general corporate purposes, including repaying existing public senior notes maturing in April 2021, demonstrating the company's ongoing strength in commercial and consumer lending.

Medallion Financial Corp. (NASDAQ:MFIN) reported its fourth quarter and full year results for 2020, revealing a net income of $6.5 million ($0.26 per share) compared to a net loss of $0.5 million in the same quarter last year. The total net loss for 2020 was $34.8 million, a significant increase from a $1.8 million loss in 2019. Notable highlights include a net interest margin of 8.89%, the highest in 13 years, and a 30% increase in net income from consumer and commercial segments. However, the medallion portfolio experienced an 88% decline, marking a shift in company focus.

KORR Acquisitions Group, Inc. has submitted a white-paper to the Board of Medallion Financial, Inc. (NASDAQ:MFIN) advocating for measures to enhance shareholder value, claiming MFIN's true worth exceeds $20 per share. KORR holds nearly 5% of MFIN shares and is urging the company to consider share buybacks, cost savings, and to concentrate on its profitable industrial bank. The proposal was presented at the Co/Investor Club's event on February 17, 2021, marking a significant engagement by a notable shareholder.

Medallion Financial Corp. (MFIN) announced that it will release its fourth quarter and full year results for 2020 after market close on February 17, 2021. A conference call to discuss these results is scheduled for February 18, 2021, at 9:00 a.m. Eastern time. Interested parties can join the call at (877) 407-0789 (toll-free) or (201) 689-8562 (direct), with a live webcast available on the company's website. A replay of the call will be accessible until February 25, 2021. Medallion has lent over $9 billion since its IPO in 1996.

Medallion Financial Corp. (MFIN) has successfully completed a private placement of $33.6 million in senior unsecured notes, set to mature on December 30, 2027, with a fixed interest rate of 7.50%. The funds will be utilized for general corporate purposes, including paying off existing 9% senior notes due in April 2021. The notes received an investment grade rating of A minus from Egan-Jones. This event highlights the company's strong performance in commercial and consumer lending. The offering was led by Piper Sandler & Co., with co-placement by Oppenheimer & Co. and B. Riley Securities.

Medallion Financial Corp. (Nasdaq: MFIN) will participate in the Jefferies Virtual Crossover Consumer Finance Summit on December 10, 2020. Interested parties can arrange meetings through their Jefferies representatives. Medallion Financial specializes in originating and servicing loans across various sectors, having lent over $9 billion since its IPO in 1996. Its subsidiary, Medallion Bank, also provides consumer loans. This participation highlights Medallion's ongoing engagement in the financial services sector.

Medallion Financial Corp. (NASDAQ: MFIN) reported a net loss of $23.6 million, or $0.97 per share, for Q3 2020, a shift from a net income of $5.0 million in Q3 2019. The medallion segment faced a significant loss of nearly $36 million due to COVID-19 impacts, prompting all loans to be placed on non-accrual status. Net interest income rose 15% to $29.1 million, driven by strong performance in consumer lending. The company’s total assets reached $1.6 billion, and the Tier 1 leverage ratio stood at 15.47%. A $3.8 million payment from a large borrower is expected to affect Q4 results positively.