Medallion Finacl Stock Price, News & Analysis

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.

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.