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

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

Manhattan Bridge Capital Stock Performance

NASDAQ LOAN opened at $5.22 on Thursday. The business has a 50 day simple moving average of $5.26 and a 200 day simple moving average of $5.13. Manhattan Bridge Capital has a 52-week low of $4.27 and a 52-week high of $5.59. The stock has a market cap of $59.72 million, a price-to-earnings ratio of 10.44 and a beta of 0.58.

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

Manhattan Bridge Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Tuesday, October 8th will be paid a dividend of $0.115 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.46 annualized dividend and a dividend yield of 8.81%. Manhattan Bridge Capital’s dividend payout ratio is currently 92.00%.

Hedge Funds Weigh In On Manhattan Bridge Capital

Several hedge funds and other institutional investors have recently made changes to their positions in the company. National Bank of Canada FI lifted its holdings in 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 purchasing an additional 3,900 shares during the last quarter. Frazier Financial Advisors LLC acquired a new stake in Manhattan Bridge Capital during the 4th quarter valued at $206,000. Melia Wealth LLC acquired a new stake in Manhattan Bridge Capital during the 1st quarter valued at $315,000. Abacus Wealth Partners LLC lifted its holdings in Manhattan Bridge Capital by 288.7% during the 1st quarter. Abacus Wealth Partners LLC now owns 56,216 shares of the credit services provider’s stock valued at $284,000 after purchasing an additional 41,752 shares during the last quarter. Finally, North Star Investment Management Corp. acquired a new stake in shares of Manhattan Bridge Capital during the first quarter worth $234,000. 21.84% of the stock is owned by institutional investors.

Manhattan Bridge Capital Company Profile

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.