Marlin Business Services (MRLN) Lifted to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Marlin Business Services (NASDAQ:MRLN) from a hold rating to a strong-buy rating in a research report released on Wednesday. They currently have $30.00 price target on the financial services provider’s stock.

According to Zacks, “Marlin Business Services Corp is a nationwide provider of equipment leasing solutions primarily to small businesses. Marlin finances over 60 categories of commercial equipment, including copiers, telephone systems, computers and certain commercial and industrial equipment. “

MRLN has been the subject of a number of other reports. BidaskClub downgraded Marlin Business Services from a hold rating to a sell rating in a research note on Thursday, December 7th. Keefe, Bruyette & Woods reiterated a buy rating and set a $29.00 price objective on shares of Marlin Business Services in a research note on Friday, December 22nd. Finally, ValuEngine downgraded Marlin Business Services from a buy rating to a hold rating in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $29.33.

Marlin Business Services (NASDAQ:MRLN) opened at $27.20 on Wednesday. The stock has a market capitalization of $347.92, a P/E ratio of 13.47 and a beta of 1.19. Marlin Business Services has a 52 week low of $20.26 and a 52 week high of $29.95.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Monday, February 12th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, February 9th. This represents a $0.56 annualized dividend and a yield of 2.06%. Marlin Business Services’s payout ratio is 27.72%.

A number of hedge funds have recently bought and sold shares of the business. Wells Fargo & Company MN boosted its stake in Marlin Business Services by 3.6% in the 2nd quarter. Wells Fargo & Company MN now owns 5,693 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its stake in Marlin Business Services by 1.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 17,664 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 216 shares during the period. New York State Common Retirement Fund boosted its stake in Marlin Business Services by 4.5% in the 2nd quarter. New York State Common Retirement Fund now owns 14,520 shares of the financial services provider’s stock worth $365,000 after purchasing an additional 619 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Marlin Business Services by 14.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,463 shares of the financial services provider’s stock worth $213,000 after purchasing an additional 1,086 shares during the period. Finally, OxFORD Asset Management LLP boosted its stake in Marlin Business Services by 6.7% in the 2nd quarter. OxFORD Asset Management LLP now owns 18,461 shares of the financial services provider’s stock worth $464,000 after purchasing an additional 1,156 shares during the period. Institutional investors and hedge funds own 80.16% of the company’s stock.

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Marlin Business Services Company Profile

Marlin Business Services Corp. is a bank holding company and a financial holding company. The Company is a provider of credit products and services to small businesses. The Company provides products and services to its customers, which include loans and leases for the acquisition of commercial equipment, working capital loans, and insurance products.

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