2Q24 results show worrying trends that must be addressed immediately. Core charge-offs (YoY), ROAA, ROAE and holding company cash-burn trended poorly. Quarterly earnings, ROAA and core ROAA (Ex. Taxi Medallion) are at 3-year lows. Low Price/Tangible Book Value multiple may be an indication of market skepticism despite Russell 3000 inclusion. ZimCal believes that Medallion Financial Corp. has tremendous upside with the right governance and leadership. ZimCal previously provided MFIN with a version of its "5 ...

NEW YORK, Aug. 19, 2024 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, "Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today it will participate in the upcoming Investor Summit 2024 Conference. Investor Summit 2024 Conference The Conference will take place virtually MFIN management will participate in a presentation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-37747 DELAWARE 04-3291176 (State of Incorporation) (IRS Employer Identification No.) 437 MADISON AVENUE, 38 th Floor NEW YORK, NE ...

Medallion Financial Corp. (NASDAQ:MFIN) Q2 2024 Earnings Conference Call July 31, 2024 9:00 AM ET Company Participants Ken Cooper - IR Andrew Murstein - President & COO Anthony Cutrone - EVP & CFO Conference Call Participants Michael Grondahl - Northland Capital Markets Christopher Nolan - Ladenburg Thalmann Matthew Howlett - B. Riley Operator Good day, and welcome to the Medallion Financial Second Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After ...

Medallion Financial (MFIN) came out with quarterly earnings of $0.30 per share, missing the Zacks Consensus Estimate of $0.33 per share. This compares to earnings of $0.62 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -9.09%. A quarter ago, it was expected that this business development company would post earnings of $0.35 per share when it actually produced earnings of $0.42, delivering a surprise of 20%. Over the last fou ...

FOR IMMEDIATE RELEASE: NEW YORK, NY – July 30, 2024 – Medallion Financial Corp. (NASDAQ: MFIN, "Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. 2024 Second Quarter Highlights • Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in th ...

NEW YORK, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Financial Corp. (NASDAQ: MFIN, "Medallion" or the "Company"), a specialty finance company that originates and services loans in various consumer and commercial industries, along with offering loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. Net income was $7.1 million, or $0.30 per share, compared to $14.2 million, or $0.62 per share, in the prior year quarter. $2.3 million of cash ...

Forward-Looking Statements Our net interest income reached $49.9 million, an all-time high, grew 4% from the prior quarter, and we saw our net charge-offs drop from what we experienced in the first quarter. We remain cautiously optimistic that the solid performance of our loans and the strong credit quality of our overall loan portfolio will continue. Despite some contraction over the past few years, due mainly to the current interest rate environment, our net interest margin increased two basis points from ...

SALT LAKE CITY, July 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKP, the "Bank"), an FDIC-insured bank providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners, announced today its results for the quarter ended June 30, 2024. The Bank is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN). Net income of $15.0 million, compared to $19.3 million in the prior year quarter. N ...

CONFERENCE CALL AND WEBCAST INFORMATION How to Participate A link to the live audio webcast of the conference call will also be available at the Company's IR website. The webcast replay will be available at the Company's IR website until the next quarter's results are announced. U.S. dial-in number: (844) 512-2921 International dial-in number: (412) 317-6671 Passcode: 1019 0811 To increase relations with institutional investors, management has dedicated time to hosting individual meetings with portfolio man ...