U.S. markets closed

Medallion Financial Corp. (MFIN)

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
8.39+0.01 (+0.12%)
At close: 4:00PM EDT
Sign in to post a message.
  • J
    Jonathan
    Medallion transfer report out - just under $100k average. A lot of activity.
  • R
    Ronald
    Is it possible that the 60,000 share buy and the 20,000 share buy today along with the highly unusual 158,000 shares traded yesterday were the result of the Company's buyback program?
    Bullish
  • C
    Chris
    Rv shipments data is out for July.
    Up 3.5% vs last July. Best July on record.
    Still going strong but seems to be trending down.
  • d
    dbtunr
    SEC investigation not previously disclosed. I looked back at past 10Q and 10K's. It has previously not been disclosed. So this is new and potentially material. I wonder if Korr uncovered it looking through their discovery and then notified MFIN that they had to disclose this. How can a long running investigation be ongoing and buried for so many years? The management needs to be run out of town.

    I have sold all my common and have started to sell my MBNKP.
  • d
    dbtunr
    Nascar team shows a loss in the 10Q for the 3 month and 6 month periods.
    3 month loss is $168K, 6 month loss is $1.255M. We also saw that the Bank was paying for advertising for a while to further mask losses. So we really don't know how bad the losses actually are.
    This is strictly a HOBBY for the owners paid for by shareholders.
    Neutral
  • J
    Jonathan
    Last three quarters EPS is $1.06. Quarter should be around $0.40 which would make 10x annual EPS $14.60. Still very underpriced. A one time settlement shouldn’t throw that off. Will management go back to a dividend now that they are very profitable? They should. I will accumulate until valuation catches up.
    Bullish
  • C
    Chris
    Guess they’re holding an auction for medallions on Monday Aug 16th.

    Also medallion transfers are in for July. Nothing special. Max proce of $105k min of $52.5k. Supposedly 7000 medallions in NYC are shelved.
  • W
    Wild Bill from Outta Town
    How is this not above $10 now?? .41 per share last quarter with revenues continually growing strong??

    It seems the more good news they have, the less investors are interested. What's it going to take to get some big volume and a big jump into double digits?? Dividend announcement?? Share buy back??

    Maybe I missed something in the last e.a. but it looked excellent to me. What did I miss?
  • R
    Ronald
    Strong buying on volume for the last 2 days is certainly different for MFIN. I see Chris's comment,. Is there any other ideas out there on the reasons?
  • y
    yossi
    I think that they took advantage of the great results (of the bank) to do some cleanups in corporate.
    Chris - what do you think? Are they sophisticate to do it?
    If they did, it means next quarter is going to be very strong because the bank is getting better and better every Q.
  • y
    yossi
    Chris - based on the bank release what is you estimate for Q2 EPS?
  • d
    dbtunr
    So why did the bank pay off all their debt? Now the preferred is the senior debt at the bank. Is it possible they will issue a new preferred at a lower rate, say 7%, to take advantage of this fact?
  • d
    dbtunr
    no volume. Not a good indicator. I think people are looking at all the one offs from this report and not liking it.
  • y
    yossi
    Great report we are heading to 10$ on Monday!
  • d
    dbtunr
    41c which included 10c gain from a fintech investment gain offset by medallion losses in Chicago. Corporate expenses are outsized in relation to what corporate does. Overall disappointing considering how strong the bank is doing. I don't see $10 after this.
  • A
    Alan
    Doesn’t the bank do a earnings statement prior to the overall? If so, how do you find it, and what’s the date please?
  • C
    Chris
    June RV shipment data is out.
    Great month! Best June on comparable record. Up 25% vs June 2020.
  • d
    dbtunr
    Added BOD member from the bank BOD. Maybe this is a precursor to removing the old father-in-law from BOD
  • d
    dbtunr
    TTM EPS of 5c. PE of 170. Not sure if that will be seen as a good thing or a bad thing.
  • d
    dbtunr
    Weird medallion numbers:

    From Q1 report: The Company’s net medallion lending portfolio, exclusive of loan collateral in the process of foreclosure, was $11.2 million as of March 31, 2021

    From Q2 report: Total gross medallion exposure (which is net of loan loss allowance and includes loans in process of foreclosure and remarketed assets) declined to $53.9 million, or 3.1% of total assets, as of June 30, 2021

    Why does one report list "net" loans and the other list "gross" loans? I can't compare those two and figure out what is going on. They should be more consistent and use one method to report so one could compare from quarter to quarter. This just confuses things and makes them look shady.