Medallion Finacl Stock Price, News & Analysis

Medallion Financial Corp. (NASDAQ: MFIN) reported its Q4 and full-year 2024 results. Q4 net income was $10.1 million ($0.43 per share), down from $14.3 million ($0.60 per share) in Q4 2023. Full-year 2024 net income reached $35.9 million ($1.52 per share), compared to $55.1 million ($2.37 per share) in 2023.

Key highlights include:

• Net interest income grew 8% to $202.5 million for 2024
• Record loan originations of $1.0 billion in 2024
• Total loans grew 12% to $2.5 billion
• Board increased quarterly dividend 10% to $0.11 per share
• Company recorded a $3.0 million charge for SEC settlement and $5.5 million benefit from insurance coverage

The recreation lending segment showed strong performance with 15% loan growth to $1.5 billion, while home improvement loans increased 9% to $827.2 million. The company repurchased 570,404 shares at an average cost of $8.07 per share in 2024.

Medallion Financial Corp (NASDAQ: MFIN) has announced it will release its fourth quarter and full-year 2024 financial results on Tuesday, March 4, 2025, after market close. The specialty finance company will host a conference call to discuss these results on Wednesday, March 5, 2025, at 9:00 a.m. Eastern time.

Investors can participate through U.S. dial-in (833) 816-1412 or international dial-in (412) 317-0504. A live webcast will be available on the Company's IR website. The conference call replay will be accessible until March 12, with U.S. replay number (844) 512-2921 and international replay number (412) 317-6671 using passcode 1019 6407.

Management is also offering individual meetings with portfolio managers and analysts post-earnings call. Interested parties can schedule meetings via investorrelations@medallion.com or (212) 328-2176.

Medallion Bank (MBNKP) reported its Q4 and full-year 2024 results. Q4 net income was $15.6 million, down from $21.9 million in Q4 2023, while net interest income increased to $53.1 million from $48.9 million. For full-year 2024, net income decreased to $60.6 million from $79.9 million in 2023, though net interest income grew to $204.7 million from $188.9 million.

The Bank's total loan portfolio grew 13% to $2.4 billion, with recreation loans up 15% to $1.543 billion and home improvement loans up 9% to $827.2 million. The Bank signed a letter of intent to sell up to $121 million of recreation loans at a premium to par value. The Board declared a quarterly cash dividend of $0.50 per share on Series F Preferred Stock, payable on April 1, 2025.

Medallion Financial Corp (NASDAQ: MFIN) reported Q3 2024 results with net income of $8.6 million ($0.37 per share), down from $11.2 million ($0.48 per share) year-over-year. Net interest income grew 8% to $52.7 million. Loan originations reached $275.6 million, with total loans growing 13% to $2.5 billion. The credit loss provision increased to $20.2 million. Recreation and home improvement loans grew to a combined $2.4 billion, with recreation loans at 14.92% average interest rate and home improvement loans at 9.76%. The Board increased quarterly dividend by 10% to $0.11 per share.

Medallion Bank reported Q3 2024 results with net income of $15.5 million, down from $17.2 million year-over-year. Net interest income increased to $53.2 million from $48.7 million. The total loan portfolio grew 13% to $2.4 billion, with recreation lending up 15% to $1.555 billion and home improvement lending up 8% to $814.1 million. The Bank's provision for credit losses increased to $20.2 million from $14.0 million year-over-year, while maintaining a strong Tier 1 leverage ratio of 15.66%. The Board declared a quarterly dividend of $0.50 per share on Series F Preferred Stock.

Medallion Financial Corp. (NASDAQ: MFIN), a specialty finance company, has announced it will report its 2024 third quarter results on Tuesday, October 29, 2024, after market close. The company will host a conference call to discuss the financial results on Wednesday, October 30, 2024, at 9:00 a.m. Eastern time.

Investors can participate in the call via U.S. dial-in (833) 816-1412 or international dial-in (412) 317-0504. A live webcast will also be available. Replay options include a webcast on the company's IR website and a conference call replay until November 6, accessible via U.S. dial-in (844) 512-2921 or international dial-in (412) 317-6671, using passcode 1019 3247.

Management is offering individual meetings with portfolio managers and analysts after the earnings call. Interested parties can schedule by contacting investorrelations@medallion.com or (212) 328-2176.

Medallion Bank (Nasdaq: MBNKP) has announced a strategic partnership with Kashable, a fintech company focused on providing socially responsible credit and financial wellness solutions. This collaboration aims to expand Medallion Bank's consumer finance reach while extending Kashable's services to a broader audience of working Americans.

As part of the partnership, Medallion Bank will originate personal loans on the Kashable platform, enhancing Kashable's ability to introduce its services to employers, benefit administration platforms, marketplaces, and industry brokers. This partnership leverages Medallion Bank's expertise in lending and partnerships, while utilizing Kashable's patented proprietary system to evaluate borrowers beyond traditional credit scores.

The collaboration is expected to strengthen both companies' positions in the financial wellness industry and provide access to affordable personal loans for working Americans through automated repayments and integrations with HRIS and payroll systems.

Medallion Financial Corp. (NASDAQ: MFIN), a specialty finance company, announced its participation in the upcoming Investor Summit 2024 Conference. The virtual event will feature a presentation by MFIN management on Tuesday, August 20 from 11:00 a.m. to 11:30 a.m. ET. Investors can access the webcast through a provided link, with registration required.

In addition to the presentation, MFIN management will be available for one-on-one meetings throughout the conference. The company is also actively seeking to enhance relations with institutional investors and family offices by offering individual meetings outside of conferences and earnings calls. Interested parties can contact Medallion Investor Relations to schedule meetings or for more information about the conference.

Medallion Financial Corp. (NASDAQ: MFIN) reported Q2 2024 results on July 30, 2024. The company achieved net income of $7.1 million ($0.30 per share), a decline from $14.2 million ($0.62 per share) in Q2 2023. Net interest income rose 7% to $49.9 million. Loan originations totaled $309.1 million, down from $346.3 million a year ago. Total loans grew 11% to $2.4 billion. The credit loss provision increased to $18.6 million, up from $8.5 million. The company repurchased 183,900 shares at $8.24 per share and declared a $0.10 per share dividend. The recreation lending segment saw originations of $209.6 million and loans grew 12% to $1.5 billion. Home improvement loan originations were $68.0 million, down from $117.0 million. Commercial loans reached $110.2 million. The company collected $2.3 million on taxi medallion-related assets, down from $10.6 million.