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

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

Manhattan Bridge Capital Trading Down 1.7 %

Shares of NASDAQ:LOAN opened at $5.35 on Friday. Manhattan Bridge Capital has a twelve month low of $4.27 and a twelve month high of $5.59. The company’s 50 day moving average is $5.23 and its 200 day moving average is $5.03. The company has a market cap of $61.20 million, a PE ratio of 10.70 and a beta of 0.59.

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

Manhattan Bridge Capital Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. National Bank of Canada FI lifted its position in shares of Manhattan Bridge Capital by 195.0% during the 4th quarter. National Bank of Canada FI now owns 5,900 shares of the credit services provider’s stock valued at $28,000 after buying an additional 3,900 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter valued at $270,000. Pinnacle Wealth Planning Services Inc. lifted its holdings in Manhattan Bridge Capital by 122.2% in the 4th quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock valued at $564,000 after purchasing an additional 62,385 shares in the last quarter. Frazier Financial Advisors LLC purchased a new position in Manhattan Bridge Capital in the 4th quarter valued at $206,000. Finally, International Assets Investment Management LLC lifted its holdings in Manhattan Bridge Capital by 447.4% in the 4th quarter. International Assets Investment Management LLC now owns 126,196 shares of the credit services provider’s stock valued at $627,000 after purchasing an additional 103,143 shares in the last quarter. 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.