Manhattan Bridge Capital (LOAN) Posts Quarterly Earnings Results, Meets Expectations

Manhattan Bridge Capital (NASDAQ:LOAN) announced its earnings results on Monday. The credit services provider reported $0.12 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.12, Fidelity Earnings reports. Manhattan Bridge Capital had a return on equity of 15.05% and a net margin of 58.09%. The firm had revenue of $1.66 million during the quarter.

Shares of Manhattan Bridge Capital stock opened at $7.10 on Tuesday. Manhattan Bridge Capital has a 1 year low of $4.65 and a 1 year high of $7.50. The firm has a market cap of $55.95, a PE ratio of 16.43 and a beta of 0.59.

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The firm also recently announced a quarterly dividend, which was paid on Monday, April 16th. Stockholders of record on Tuesday, April 10th were given a dividend of $0.12 per share. The ex-dividend date was Monday, April 9th. This is a positive change from Manhattan Bridge Capital’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 6.76%.

Separately, Maxim Group reaffirmed a “buy” rating and set a $7.50 target price on shares of Manhattan Bridge Capital in a research report on Tuesday, March 20th.

A hedge fund recently raised its stake in Manhattan Bridge Capital stock. Vanguard Group Inc. grew its holdings in shares of Manhattan Bridge Capital (NASDAQ:LOAN) by 4.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 246,326 shares of the credit services provider’s stock after purchasing an additional 9,710 shares during the quarter. Vanguard Group Inc. owned approximately 3.04% of Manhattan Bridge Capital worth $1,466,000 at the end of the most recent reporting period. Institutional investors own 13.05% of the company’s stock.

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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. It offers short-term, secured, and non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation, or enhancement of properties in the New York metropolitan area.

Earnings History for Manhattan Bridge Capital (NASDAQ:LOAN)

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