Manhattan Bridge Capital (NASDAQ:LOAN) Now Covered by StockNews.com

StockNews.com started coverage on shares of Manhattan Bridge Capital (NASDAQ:LOAN) in a research report sent to investors on Friday. The brokerage issued a strong-buy rating on the credit services provider’s stock.

Manhattan Bridge Capital Price Performance

LOAN opened at $5.41 on Friday. Manhattan Bridge Capital has a 1-year low of $4.27 and a 1-year high of $5.59. The stock has a market cap of $61.88 million, a P/E ratio of 10.82 and a beta of 0.58. The stock’s 50 day simple moving average is $5.24 and its 200 day simple moving average is $5.14.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12. The company had revenue of $2.44 million for the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 8.50%. The ex-dividend date is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of LOAN. Riversedge Advisors LLC acquired a new position in shares of Manhattan Bridge Capital in the second quarter worth $68,000. Virtu Financial LLC acquired a new position in Manhattan Bridge Capital in the 1st quarter valued at about $69,000. B. Riley Wealth Advisors Inc. lifted its holdings in Manhattan Bridge Capital by 67.8% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after purchasing an additional 6,923 shares in the last quarter. North Star Investment Management Corp. acquired a new stake in shares of Manhattan Bridge Capital during the 1st quarter worth about $234,000. Finally, Abacus Wealth Partners LLC boosted its stake in shares of Manhattan Bridge Capital by 288.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock worth $284,000 after purchasing an additional 41,752 shares during the last quarter. 21.84% of the stock is owned by hedge funds and other institutional investors.

Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc, a real estate finance company, originates, services, and manages a portfolio of first mortgage loans in the United States. The company offers short-term, secured, and non-banking loans to real estate investors to fund acquisition, renovation, rehabilitation, or development of residential or commercial properties.