Medallion Finacl Stock Price, News & Analysis

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.

Medallion Financial Corp. (NASDAQ: MFIN) has appointed Robert M. Meyer as an independent director, increasing the board’s size to eight members, with five independents. Meyer, who has 47 years of banking experience, previously held executive positions at Valley National Bancorp and other institutions. His appointment is expected to enhance oversight and strategy, according to Chairman and CEO Alvin Murstein. Medallion Financial has originated over $9 billion in loans since 1996 and aims to drive shareholder value through strategic direction and governance improvements.

Medallion Financial Corp. (NASDAQ: MFIN) will release its 2021 second quarter results on August 2, 2021, after market closing. A conference call to discuss these results is scheduled for August 3, 2021, at 9:00 a.m. Eastern time. Participants can dial (855) 327-6837 toll-free or (631) 891-4304 direct. A live webcast will be available on their website. The replay of the call will be accessible until August 10, 2021, via phone and webcast. Medallion Financial has originated over $9 billion in loans since its IPO in 1996, focusing on various consumer and commercial niches.

Medallion Financial Corp. (NASDAQ: MFIN) will present at the LD Micro Invitational XI from June 8-10, 2021. The presentation is scheduled for June 9 at 12:00 PM ET and will be available via webcast. Management will also hold one-on-one meetings throughout the event. Investors can access the archived presentation on Medallion's website for 30 days post-event. Since its IPO in 1996, Medallion has originated over $9 billion in loans and currently manages $1.8 billion in assets.

Medallion Bank (Nasdaq: MBNKP) has partnered with LoanPro to enhance its digital lending capabilities for consumer loans. This collaboration integrates Medallion's finance expertise with LoanPro's automated loan servicing software, aiming to improve efficiency and customer service. Donald Poulton, CEO of Medallion Bank, emphasized the importance of this partnership for scaling loan servicing operations. LoanPro's platform is utilized by over 600 lenders in the U.S. and Canada, focusing on data visibility and workflow automation.

Medallion Financial Corp. (NASDAQ: MFIN) reported a strong first quarter for 2021, achieving a net income of $8.4 million, or $0.34 per share, an improvement from a net loss of $13.6 million last year. Net interest income rose to $28.7 million, bolstered by the consumer lending segments. Consumer originations surged to $142 million, up 37% year-over-year. Operating expenses decreased by $4.6 million.

Assets totaled $1.7 billion as of March 31, 2021, with a Tier 1 leverage ratio of 18.03%. The Company is optimistic about future performance and ongoing fintech partnerships.

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.