Medallion Financial Q2 net income falls on lower equity investment gains
MFIN•Outlook
The company expects continued profitable growth supported by disciplined underwriting and expanding partnerships.
It said demand remains healthy in its recreation and home improvement lending businesses, and that recent loan originations provide visibility into future portfolio and earnings growth.
Analyst coverage
The current average analyst rating on the shares is buy and the breakdown of recommendations is 1 strong buy or buy, 3 hold and no sell or strong sell.
The average consensus recommendation for the banks peer group is buy.
Wall Street's median 12-month price target for Medallion Financial Corp is $10.50, about 5.8% above its July 28 closing price of $9.92.
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 6 three months ago.
Key reported figures
| Metric | Actual |
|---|---|
| Q2 EPS | $0.31 |
| Q2 net income | $7.40 million |
| Q2 net interest income | $57.20 million |
| Q2 dividend | $0.14 |
