Marlin Business Services (MRLN) Stock Rating Upgraded by Zacks Investment Research

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Marlin Business Services (NASDAQ:MRLN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday. The brokerage currently has a $24.00 price target on the financial services provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 8.11% from the company’s current price.

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 brokerages have also commented on MRLN. BidaskClub upgraded Marlin Business Services from a “hold” rating to a “buy” rating in a research report on Saturday, October 13th. ValuEngine lowered Marlin Business Services from a “hold” rating to a “sell” rating in a research report on Friday, December 7th.

Shares of MRLN opened at $22.20 on Thursday. The firm has a market capitalization of $275.91 million, a price-to-earnings ratio of 10.88 and a beta of 0.93. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.15 and a current ratio of 0.15. Marlin Business Services has a 52 week low of $17.51 and a 52 week high of $31.95.

Marlin Business Services (NASDAQ:MRLN) last announced its quarterly earnings data on Thursday, January 31st. The financial services provider reported $0.51 EPS for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). The firm had revenue of $23.68 million during the quarter, compared to the consensus estimate of $24.50 million. Marlin Business Services had a net margin of 19.99% and a return on equity of 13.41%. Analysts forecast that Marlin Business Services will post 2.31 EPS for the current year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its position in Marlin Business Services by 438.4% in the 4th quarter. Bank of Montreal Can now owns 2,412 shares of the financial services provider’s stock valued at $55,000 after buying an additional 1,964 shares during the last quarter. BlackRock Inc. boosted its position in shares of Marlin Business Services by 0.3% in the 3rd quarter. BlackRock Inc. now owns 645,002 shares of the financial services provider’s stock worth $18,607,000 after purchasing an additional 2,054 shares during the last quarter. Martingale Asset Management L P boosted its position in shares of Marlin Business Services by 5.0% in the 3rd quarter. Martingale Asset Management L P now owns 50,521 shares of the financial services provider’s stock worth $1,458,000 after purchasing an additional 2,404 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Marlin Business Services by 18.3% in the 4th quarter. First Trust Advisors LP now owns 16,986 shares of the financial services provider’s stock worth $379,000 after purchasing an additional 2,628 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of Marlin Business Services by 1.9% in the 2nd quarter. Northern Trust Corp now owns 153,532 shares of the financial services provider’s stock worth $4,583,000 after purchasing an additional 2,873 shares during the last quarter. Hedge funds and other institutional investors own 83.60% of the company’s stock.

About Marlin Business Services

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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