- Q2 net increase in net assets from operations of $8.1M or $0.33 per share vs. $7.1M and $0.28 one year ago. Net investment income of $4.3M or $0.18 per share vs. $3.8M and $0.15.
- 64% of earnings came from consumer lending businesses, and consumer loans originated by Medallion Bank grew 30%.
- On a combined basis with Medallion Bank, net interest margin of 6.93% vs. 7.11% a year ago.
- Combined with Medallion Bank, loans 90 days or more past due of 1%, up from 0.5% in Q1. Medallion loans 90 days or more past due of 1.3% up from 0.3% in Q1. Medallion loans of $309.5M fell 3% Y/Y, and now represent 57% of the investment portfolio vs. 63% a year ago.
- The commercial loan portfolio of $75.3M up 28% Y/Y, and now makes up 14% o the investment portfolio, up from 12%.
- Stock buyback is raised to $26M from $12.5M still remaining. This would be good for about 12% of the float at the current price.
- Previously: Medallion Financial beats by $0.03, misses on total investment income (Aug. 4)
- TAXI +13.7%
Medallion Financial soars after earnings beat
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Symbol | Last Price | % Chg |
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MFIN | - | - |
Medallion Financial Corp. |