StockNews.com Initiates Coverage on Manhattan Bridge Capital (NASDAQ:LOAN)

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

Manhattan Bridge Capital Trading Up 0.2 %

Shares of LOAN stock opened at $5.42 on Friday. The company has a market cap of $62.00 million, a price-to-earnings ratio of 10.84 and a beta of 0.58. The stock has a 50 day simple moving average of $5.25 and a 200-day simple moving average of $5.15. Manhattan Bridge Capital has a 12-month low of $4.27 and a 12-month high of $5.59.

Manhattan Bridge Capital (NASDAQ:LOAN) last released its quarterly earnings results on Monday, July 22nd. The credit services provider reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12. The business 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 8.49%. 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

A number of large investors have recently made changes to their positions in the business. Renaissance Technologies LLC raised its position in shares of Manhattan Bridge Capital by 13.3% in the 2nd quarter. Renaissance Technologies LLC now owns 187,428 shares of the credit services provider’s stock worth $963,000 after buying an additional 21,950 shares during the period. Pinnacle Wealth Planning Services Inc. raised its position in shares of Manhattan Bridge Capital by 24.7% in the 1st quarter. Pinnacle Wealth Planning Services Inc. now owns 141,494 shares of the credit services provider’s stock worth $716,000 after buying an additional 28,048 shares during the period. PDS Planning Inc purchased a new position in shares of Manhattan Bridge Capital in the 1st quarter worth $499,000. Beese Fulmer Investment Management Inc. purchased a new position in shares of Manhattan Bridge Capital in the 2nd quarter worth $436,000. Finally, Waddell & Associates LLC raised its position in shares of Manhattan Bridge Capital by 3.9% in the 2nd quarter. Waddell & Associates LLC now owns 77,118 shares of the credit services provider’s stock worth $396,000 after buying an additional 2,861 shares during the period. Hedge funds and other institutional investors 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.