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

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

Manhattan Bridge Capital Stock Performance

Manhattan Bridge Capital stock opened at $5.35 on Friday. Manhattan Bridge Capital has a 52 week low of $4.27 and a 52 week high of $5.59. The stock has a market capitalization of $61.20 million, a P/E ratio of 10.70 and a beta of 0.59. The stock has a 50-day simple moving average of $5.23 and a 200 day simple moving average of $5.03.

Manhattan Bridge Capital (NASDAQ:LOAN) last posted its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 EPS for the quarter, hitting analysts’ consensus estimates of $0.12. The business had revenue of $2.44 million during the quarter. Manhattan Bridge Capital had a return on equity of 13.20% and a net margin of 56.72%.

Manhattan Bridge Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.115 per share. The ex-dividend date of this dividend is Tuesday, October 8th. This represents a $0.46 annualized dividend and a yield of 8.60%. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Institutional Investors Weigh In On Manhattan Bridge Capital

Several hedge funds have recently bought and sold shares of the stock. National Bank of Canada FI lifted its position in Manhattan Bridge Capital by 195.0% during the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock worth $28,000 after acquiring an additional 3,900 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of Manhattan Bridge Capital by 67.8% in the first quarter. B. Riley Wealth Advisors Inc. now owns 17,133 shares of the credit services provider’s stock valued at $82,000 after buying an additional 6,923 shares in the last quarter. Certuity LLC acquired a new stake in shares of Manhattan Bridge Capital in the fourth quarter valued at approximately $54,000. Riversedge Advisors LLC acquired a new stake in shares of Manhattan Bridge Capital in the second quarter valued at approximately $68,000. Finally, Virtu Financial LLC acquired a new stake in shares of Manhattan Bridge Capital in the first quarter valued at approximately $69,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.