earnings
confidence high
sentiment neutral
materiality 0.75
Medallion Financial Q4 net income $10.1M ($0.43/sh) vs $14.3M YoY; dividend up 10%
MEDALLION FINANCIAL CORP
- Q4 net income $10.1M ($0.43/sh) down from $14.3M ($0.60/sh) YoY; full-year $35.9M ($1.52/sh) vs $55.1M ($2.37/sh).
- Net interest income grew 6% to $52.0M in Q4; full-year loan originations exceeded $1B for first time.
- Credit loss provision jumped to $20.6M in Q4 from $10.8M YoY; allowance increased.
- Board increased quarterly dividend 10% to $0.11/sh, payable March 31.
- Recorded $3.0M charge for SEC settlement agreement in principle; $5.5M insurance benefit for legal costs.