Medallion Financial Corp. Reports 2016 Second Quarter Results

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Go back to Medallion Financial Corp. Reports 2016 Second Quarter Results

Medical Financial (MFIN) Misses Q2 EPS by 6c; Will Not Pay Qtr. Dividend; Will Analyze Current Op. Structure

August 2, 2016 9:12 AM EDT

Medical Financial (NASDAQ: MFIN) reported Q2 EPS of $0.19, $0.06 worse than the analyst estimate of $0.25.

Medallion Bank has elected to retain all of its earnings in this quarter, instead of declaring a dividend to the Company. This is due in part to stronger than anticipated loan demand at the Bank. The Company feels that the retention of earnings at the Medallion Bank level to support this strong loan demand and pre-tax return on equity of over 50% is in the best interests of the Company and its shareholders. Due to the foregoing and the below business... More