Marlin Business Services Corp. (MRLN) Stake Cut by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan reduced its position in Marlin Business Services Corp. (NASDAQ:MRLN) by 10.3% during the second quarter, Holdings Channel reports. The institutional investor owned 26,430 shares of the financial services provider’s stock after selling 3,030 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Marlin Business Services Corp. were worth $665,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. American International Group Inc. increased its stake in Marlin Business Services Corp. by 7.1% in the first quarter. American International Group Inc. now owns 5,102 shares of the financial services provider’s stock worth $131,000 after buying an additional 339 shares during the last quarter. TFS Capital LLC purchased a new stake in Marlin Business Services Corp. during the first quarter worth $210,000. Trexquant Investment LP purchased a new stake in Marlin Business Services Corp. during the first quarter worth $274,000. Alliancebernstein L.P. increased its stake in Marlin Business Services Corp. by 0.8% in the first quarter. Alliancebernstein L.P. now owns 12,000 shares of the financial services provider’s stock worth $309,000 after buying an additional 100 shares during the last quarter. Finally, Strs Ohio increased its stake in Marlin Business Services Corp. by 12.3% in the second quarter. Strs Ohio now owns 17,400 shares of the financial services provider’s stock worth $437,000 after buying an additional 1,900 shares during the last quarter. 77.50% of the stock is currently owned by institutional investors.

Shares of Marlin Business Services Corp. (NASDAQ MRLN) opened at 25.30 on Friday. The stock’s 50 day moving average price is $25.27 and its 200-day moving average price is $24.95. The company has a market cap of $309.12 million, a P/E ratio of 20.93 and a beta of 1.31. Marlin Business Services Corp. has a 52-week low of $17.05 and a 52-week high of $26.70.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Investors of record on Monday, August 7th were given a dividend of $0.14 per share. This is a positive change from Marlin Business Services Corp.’s previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Thursday, August 3rd. Marlin Business Services Corp.’s dividend payout ratio (DPR) is currently 46.28%.

Marlin Business Services Corp. declared that its Board of Directors has initiated a stock buyback program on Tuesday, May 30th that authorizes the company to buyback $10.00 million in shares. This buyback authorization authorizes the financial services provider to repurchase up to 3.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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A number of equities research analysts have recently weighed in on the company. Zacks Investment Research upgraded Marlin Business Services Corp. from a “hold” rating to a “strong-buy” rating and set a $30.00 target price for the company in a research report on Thursday, August 3rd. BidaskClub upgraded Marlin Business Services Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, ValuEngine downgraded Marlin Business Services Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th.

In related news, Director James W. Wert sold 2,980 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $25.42, for a total transaction of $75,751.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Edward Ralph Jr. Dietz sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was sold at an average price of $25.01, for a total value of $75,030.00. The disclosure for this sale can be found here. 6.94% of the stock is owned by company insiders.

Marlin Business Services Corp. 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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Institutional Ownership by Quarter for Marlin Business Services Corp. (NASDAQ:MRLN)

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