Manhattan Bridge Capital (NASDAQ:LOAN) Receives New Coverage from Analysts at StockNews.com

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

Manhattan Bridge Capital Trading Down 0.2 %

LOAN opened at $5.20 on Wednesday. Manhattan Bridge Capital has a 1-year low of $4.27 and a 1-year high of $5.59. The company has a market cap of $59.48 million, a P/E ratio of 10.40 and a beta of 0.59. The company has a fifty day moving average price of $5.27 and a two-hundred day moving average price of $5.11.

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

Manhattan Bridge Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Tuesday, October 8th will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 8.85%. The ex-dividend date is Tuesday, October 8th. Manhattan Bridge Capital’s dividend payout ratio (DPR) is currently 92.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in LOAN. PDS Planning Inc acquired a new position in shares of Manhattan Bridge Capital during the first quarter valued at about $499,000. Beese Fulmer Investment Management Inc. acquired a new position in shares of Manhattan Bridge Capital during the second quarter valued at about $436,000. Pinnacle Wealth Planning Services Inc. grew its holdings in shares of Manhattan Bridge Capital by 122.2% during the fourth quarter. Pinnacle Wealth Planning Services Inc. now owns 113,446 shares of the credit services provider’s stock valued at $564,000 after buying an additional 62,385 shares during the last quarter. Melia Wealth LLC acquired a new position in shares of Manhattan Bridge Capital during the first quarter valued at about $315,000. Finally, Wealthcare Advisory Partners LLC acquired a new position in shares of Manhattan Bridge Capital during the fourth quarter valued at about $270,000. 21.84% of the stock is currently owned by institutional investors and hedge funds.

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.