Zacks Investment Research lowered shares of Marlin Business Services (NASDAQ:MRLN) from a hold rating to a strong sell rating in a research report report published on Thursday morning.
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. “
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded Marlin Business Services from a buy rating to a hold rating in a research note on Thursday, August 2nd. BidaskClub downgraded Marlin Business Services from a buy rating to a hold rating in a research note on Saturday, July 14th.
Marlin Business Services (NASDAQ:MRLN) last issued its earnings results on Thursday, August 2nd. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The business had revenue of $24.13 million during the quarter, compared to the consensus estimate of $24.10 million. Marlin Business Services had a return on equity of 12.48% and a net margin of 26.20%. research analysts anticipate that Marlin Business Services will post 2.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 23rd. Investors of record on Monday, August 13th will be paid a $0.14 dividend. This is an increase from Marlin Business Services’s previous quarterly dividend of $0.11. This represents a $0.56 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, August 10th. Marlin Business Services’s dividend payout ratio (DPR) is presently 37.33%.
In related news, Director James W. Wert sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 18th. The stock was sold at an average price of $29.10, for a total value of $29,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider James Sherlock sold 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, June 5th. The shares were sold at an average price of $30.12, for a total value of $51,204.00. The disclosure for this sale can be found here. Insiders sold a total of 5,700 shares of company stock valued at $169,804 over the last ninety days. 7.71% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MRLN. MetLife Investment Advisors LLC purchased a new position in Marlin Business Services in the 1st quarter valued at approximately $124,000. Globeflex Capital L P increased its stake in Marlin Business Services by 438.5% in the 2nd quarter. Globeflex Capital L P now owns 7,000 shares of the financial services provider’s stock valued at $209,000 after purchasing an additional 5,700 shares in the last quarter. Wells Fargo & Company MN increased its stake in Marlin Business Services by 40.2% in the 4th quarter. Wells Fargo & Company MN now owns 12,917 shares of the financial services provider’s stock valued at $289,000 after purchasing an additional 3,703 shares in the last quarter. Hancock Holding Co. increased its stake in Marlin Business Services by 26.2% in the 1st quarter. Hancock Holding Co. now owns 11,876 shares of the financial services provider’s stock valued at $337,000 after purchasing an additional 2,468 shares in the last quarter. Finally, Millennium Management LLC purchased a new position in Marlin Business Services in the 4th quarter valued at approximately $349,000. 82.98% of the stock is owned by hedge funds and other institutional investors.
Marlin Business Services Company Profile
Marlin Business Services Corp., through its subsidiaries, provides equipment financing solutions to small and mid-sized businesses in the United States. It finances approximately 100 categories of equipment, including commercial and industrial, restaurant, auto, medical, VOIP, and printing equipment, as well as computer software, copiers, cash registers, dental implant systems, and other commercial equipment.
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