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

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

Manhattan Bridge Capital Stock Performance

LOAN opened at $5.22 on Thursday. The company has a market capitalization of $59.72 million, a P/E ratio of 10.44 and a beta of 0.58. The stock has a fifty day moving average of $5.26 and a 200-day moving average of $5.13. Manhattan Bridge Capital has a fifty-two week low of $4.27 and a fifty-two week high of $5.59.

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, meeting 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 declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Tuesday, October 8th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 8.81%. The ex-dividend date of this dividend is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is presently 92.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. National Bank of Canada FI raised its stake in Manhattan Bridge Capital by 195.0% in the fourth quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after purchasing an additional 3,900 shares in the last quarter. Riversedge Advisors LLC bought a new position in Manhattan Bridge Capital in the second quarter valued at about $68,000. Virtu Financial LLC bought a new position in Manhattan Bridge Capital in the first quarter valued at about $69,000. B. Riley Wealth Advisors Inc. grew its position in 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 acquiring an additional 6,923 shares during the last quarter. Finally, Frazier Financial Advisors LLC bought a new position in Manhattan Bridge Capital in the fourth quarter valued at about $206,000. Institutional investors and hedge funds own 21.84% of the company’s stock.

About Manhattan Bridge Capital

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.