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Medallion Financial Corp - MFIN STOCK NEWS

Welcome to our dedicated page for Medallion Financial news (Ticker: MFIN), a resource for investors and traders seeking the latest updates and insights on Medallion Financial stock.

Medallion Financial Corp. (NASDAQ: MFIN) is a publicly traded specialty finance company with a significant presence in financing taxi medallions and other targeted industries. The company operates the largest taxitop advertising network in the United States.

Medallion Financial Corp. focuses on originating and servicing loans across various sectors, including recreation, home improvement, commercial lending, medallion lending, and corporate and other investments. Its most profitable segment is the Recreation sector, which includes financing for towable RVs and marine vehicles.

Headquartered in New York City with its primary subsidiary, Medallion Bank, located in Salt Lake City, Utah, the company is committed to expanding its consumer and mezzanine loan portfolio. Key industries served by Medallion include home improvement projects like replacement roofs, swimming pools, and windows.

In recent developments, Medallion Financial has made significant strides, such as being included in the Russell 3000® Index, which highlights the company’s financial performance and growth. This inclusion is a testament to Medallion’s successful strategic transformation into a leading consumer and commercial lender. The company is poised to introduce its services to a broader segment of the investment community through this prominent index.

Medallion Financial’s executive compensation and board nominees have gained support from ISS, a leading independent governance advisory firm. This endorsement reflects the company's alignment of pay and performance and the introduction of performance equity into its long-term incentive program.

The company is actively engaged in its annual proxy solicitation process, urging shareholders to vote for the re-election of two highly qualified directors and the approval of executive compensation packages. Medallion Financial remains focused on delivering substantial value creation for its shareholders.

For more information, visit the company's official website.

News

Medallion Financial Corp. to Report 2024 First Quarter Results on Tuesday, April 30, 2024

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Medallion Financial Corp. will report its 2024 first-quarter results on April 30, 2024, followed by a conference call on May 1, 2024. The company offers loan products through fintech partners and services loans in various industries.
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ZimCal Asset Management, LLC and Its Affiliates Nominate Two Highly Qualified, Independent Candidates to the Board of Medallion Financial Corp.

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ZimCal Asset Management, and its affiliates nominate two highly qualified, independent candidates to the Board of Medallion Financial Corp. The nominees have extensive financial experience and aim to improve governance and management practices. ZimCal believes the current Board lacks independence and has negatively impacted stockholders. The Company's stock price has declined by 40% over the last decade, with heightened near-term risk factors due to subprime exposure and poor loss mitigation history.
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Medallion Bank Announces Fintech Strategic Partnership With TriBeam Financial

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Medallion Bank (Nasdaq: MFIN) announces a definitive agreement with TriBeam Financial, Inc. for home solar systems financing. The partnership aims to enhance home improvement lending services, expanding reach and expertise in the residential solar equipment market.
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Medallion Financial Corp. Reports 2023 Fourth Quarter and Full-Year Results

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Medallion Financial Corp. (MFIN) reports strong financial performance in Q4 and full-year 2023 with record earnings, increased loan originations, and growth in net interest income. The company saw a 12% increase in net interest income in Q4 and a 17% increase for the full year. Despite a slight decrease in net interest margin, Medallion Financial Corp. increased its quarterly dividend by 25%. The company's total assets grew by 15% to $2.6 billion. Medallion Financial Corp. President, Andrew Murstein, expressed satisfaction with the company's financial achievements and long-term prospects.
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Medallion Financial Corp. to Report 2023 Fourth Quarter and Full-Year Results on Tuesday, February 20, 2024

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Medallion Financial Corp. will report its 2023 fourth quarter and full-year results on February 20, 2024, followed by a conference call on February 21, 2024. The company offers loan products and services through fintech strategic partners and aims to increase relations with institutional investors.
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Medallion Bank Reports 2023 Fourth Quarter and Full-Year Results and Declares Series F Preferred Stock Dividend

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Medallion Bank, a subsidiary of Medallion Financial Corp., reported strong results for the quarter and full-year ended December 31, 2023. The bank's net income was $21.9 million for the fourth quarter and $79.9 million for the full year. Net interest income was $48.9 million for the fourth quarter and $188.9 million for the full year. The total provision for credit losses was $36.5 million for the full year. The bank's total assets were $2.3 billion, and total capital was $351.8 million at December 31, 2023.
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Medallion Financial Corp. Reports 2023 Third Quarter Results

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Medallion Financial Corp. reported net income of $11.2 million, or $0.48 per share, for the third quarter of 2023. Cash collections on taxi medallion-related assets totaled $5.7 million, contributing to earnings of $0.10 per share. Loan originations were $217.4 million, and total loans grew 19% to $2.2 billion. The credit loss provision increased to $14.5 million. Total assets reached an all-time high of $2.6 billion. The quarterly dividend was increased by 25% to $0.10 per share.
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Medallion Bank Reports 2023 Third Quarter Results and Declares Series F Preferred Stock Dividend

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Medallion Bank (MBNKP) announced its results for the quarter ended September 30, 2023. Quarterly net income was $17.2 million, compared to $18.3 million in the prior year quarter. Net interest income was $48.7 million with a net interest margin of 8.7%. Total provision for credit losses was $14.0 million. Annualized net charge-offs were 2.0% of average loans outstanding. Annualized ROA and ROE were 3.06% and 20.46%, respectively. The total loan portfolio grew 19.3% to $2.102 billion. Total assets were $2.258 billion and the Tier 1 leverage ratio was 16.08%.
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Medallion Financial Corp. to Report 2023 Third Quarter Results on Monday, October 30, 2023

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Medallion Financial Corp. will report its 2023 third quarter results on October 30, 2023, and hold a conference call on October 31.
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Medallion Financial Celebrates Medallion Capital's 25-Year Milestone

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Medallion Financial Corp's subsidiary, Medallion Capital, is celebrating its 25th anniversary and has provided over $400 million of capital to 110 different companies. The acquisition of Medallion Capital has added to the company's performance, diversification, and returns. Medallion Capital is a Small Business Investment Company that offers senior subordinated or mezzanine debt solutions to middle market companies.
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FAQ

What is the current stock price of Medallion Financial (MFIN)?

The current stock price of Medallion Financial (MFIN) is $9.78 as of December 20, 2024.

What is the market cap of Medallion Financial (MFIN)?

The market cap of Medallion Financial (MFIN) is approximately 223.8M.

What does Medallion Financial Corp. do?

Medallion Financial Corp. is a specialty finance company that originates and services loans in various sectors, including recreation, home improvement, and commercial lending.

Where is Medallion Financial Corp. headquartered?

The company is headquartered in New York City, NY, with its largest subsidiary, Medallion Bank, based in Salt Lake City, Utah.

What are the key industries served by Medallion Financial Corp.?

Medallion serves multiple industries, including recreation (towable RVs and marine), and home improvement (replacement roofs, swimming pools, and windows).

What is Medallion Financial Corp.’s most profitable segment?

The Recreation segment, which includes financing for towable RVs and marine vehicles, generates the most revenue for the company.

Has Medallion Financial Corp. been recently included in any stock indexes?

Yes, Medallion Financial Corp. has been included in the Russell 3000® Index, reflecting its growth and financial performance.

What recent endorsements has Medallion Financial Corp. received?

ISS, an independent governance advisory firm, has endorsed Medallion's executive compensation and board nominees.

How can shareholders participate in Medallion Financial Corp.'s annual proxy solicitation?

Shareholders are encouraged to vote on the BLUE proxy card and can refer to the company’s definitive proxy statement for detailed information.

Who are the current nominees for re-election to Medallion Financial Corp.'s Board of Directors?

The current board nominees for re-election are Robert M. Meyer and David L. Rudnick.

How can I get more information about Medallion Financial Corp.?

For more information, visit the official website at www.medallion.com or contact the Investor Relations team.

What is the significance of Medallion Financial Corp.'s largest subsidiary, Medallion Bank?

Medallion Bank, headquartered in Salt Lake City, Utah, plays a crucial role in servicing the company's consumer loan portfolio.

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Medallion Financial Corp

Nasdaq:MFIN

MFIN Rankings

#3761 Ranked by Market Cap
#671 Ranked by Dividends

MFIN Stock Data

223.76M
17.93M
21.73%
37.45%
4.54%
Credit Services
Finance Services
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United States of America
NEW YORK