Manhattan Bridge Capital Inc. (LOAN) to Issue Quarterly Dividend of $0.11 on January 15th

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) announced a quarterly dividend on Monday, October 23rd, Wall Street Journal reports. Stockholders of record on Friday, December 29th will be paid a dividend of 0.11 per share by the credit services provider on Monday, January 15th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 7.41%. The ex-dividend date is Thursday, December 28th. This is a positive change from Manhattan Bridge Capital’s previous quarterly dividend of $0.10.

Shares of Manhattan Bridge Capital (LOAN) opened at $5.94 on Wednesday. Manhattan Bridge Capital has a fifty-two week low of $4.65 and a fifty-two week high of $7.65. The company has a market cap of $48.45, a price-to-earnings ratio of 14.85 and a beta of 0.76.

Manhattan Bridge Capital (NASDAQ:LOAN) last announced its earnings results on Thursday, October 19th. The credit services provider reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. Manhattan Bridge Capital had a net margin of 60.37% and a return on equity of 16.72%. The firm had revenue of $1.59 million for the quarter.

An institutional investor recently raised its position in Manhattan Bridge Capital stock. Vanguard Group Inc. lifted its stake in Manhattan Bridge Capital Inc. (NASDAQ:LOAN) by 4.1% in the 2nd quarter, according to the company in its most recent 13F 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 3.04% of Manhattan Bridge Capital worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors own 11.97% of the company’s stock.

Separately, Maxim Group started coverage on shares of Manhattan Bridge Capital in a report on Thursday, December 21st. They set a “buy” rating and a $7.50 target price on the stock.

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Manhattan Bridge Capital Company Profile

Manhattan Bridge Capital, Inc (MBC) is a real estate finance company that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Company offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area.

Dividend History for Manhattan Bridge Capital (NASDAQ:LOAN)

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