Marlin Business Services (MRLN) Downgraded by BidaskClub to Strong Sell

BidaskClub lowered shares of Marlin Business Services (NASDAQ:MRLN) from a sell rating to a strong sell rating in a research report sent to investors on Thursday morning.

A number of other brokerages have also issued reports on MRLN. Zacks Investment Research lowered shares of Marlin Business Services from a buy rating to a hold rating in a report on Tuesday, October 3rd. Keefe, Bruyette & Woods initiated coverage on shares of Marlin Business Services in a report on Tuesday, December 12th. They issued an outperform rating and a $26.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Marlin Business Services presently has a consensus rating of Hold and an average target price of $29.33.

Marlin Business Services (NASDAQ MRLN) opened at $22.40 on Thursday. The company has a market cap of $281.45, a PE ratio of 20.00 and a beta of 1.22. Marlin Business Services has a fifty-two week low of $20.10 and a fifty-two week high of $29.95.

Marlin Business Services (NASDAQ:MRLN) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.11). The business had revenue of $23.14 million during the quarter, compared to the consensus estimate of $23.60 million. Marlin Business Services had a net margin of 13.40% and a return on equity of 10.84%.

A number of hedge funds and other institutional investors have recently modified their holdings of MRLN. Kestrel Investment Management Corp bought a new position in Marlin Business Services in the 3rd quarter valued at approximately $3,134,000. Western Standard LLC increased its position in Marlin Business Services by 12.2% during the 2nd quarter. Western Standard LLC now owns 192,790 shares of the financial services provider’s stock valued at $4,849,000 after purchasing an additional 21,034 shares during the period. John W. Rosenthal Capital Management Inc. acquired a new stake in Marlin Business Services during the 2nd quarter valued at approximately $485,000. Vanguard Group Inc. increased its position in Marlin Business Services by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 344,659 shares of the financial services provider’s stock valued at $8,875,000 after purchasing an additional 11,716 shares during the period. Finally, Northern Trust Corp increased its position in Marlin Business Services by 7.8% during the 2nd quarter. Northern Trust Corp now owns 139,301 shares of the financial services provider’s stock valued at $3,503,000 after purchasing an additional 10,067 shares during the period. Institutional investors and hedge funds own 80.28% of the company’s stock.

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About Marlin Business Services

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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