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Medallion Financial Q4 swings to profit

Feb. 27, 2019 4:15 PM ETMedallion Financial Corp. (MFIN) StockBy: Liz Kiesche, SA News Editor7 Comments
  • Medallion Financial (NASDAQ:MFIN) Q4 EPS of 38 cents beats the average analyst estimate for loss per share of 2 cents and compares with a loss per share of 19 cents from a year ago.
  • Q4 net interest margin of 8.07% compares with 7.41% a year ago.
  • Continues to lower medallion portfolio's loan exposure--medallion loans were 16% of net loans at the end of 2018 vs. 28% at the end of 2017.
  • Q4 provision for medallion loan losses was $3.4M, reflecting reserve reversal of $8.2M on deconsolidating Trust III, compared with $13.3M in Q3.
  • Book value per share $10.75 at Dec. 31, 2018.
  • Conference call on Feb. 28 at 9:00 AM ET.
  • Previously: Medallion Financial beats by $0.53 (Feb. 27)

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