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Need To Know: Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Insiders Have Been Buying Shares
We often see insiders buying up shares in companies that perform well over the long term. The flip side of that is that...
Simply Wall St. · 12/25/2020 07:53
Manhattan Bridge Capital, Inc. Announces Payment of Quarterly $0.11 per Share Dividend
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that, in accordance with the board approved dividend declared on October 26, 2020, a cash dividend of $0.11 per share will be paid to all shareholders of record on December 31, 2020. The dividen...
GlobeNewswire · 12/22/2020 12:00
Manhattan Bridge Capital, Inc. Announces Payment of Quarterly $0.11 per Share Dividend
GlobeNewswire · 12/22/2020 12:00
Here's What We Think About Manhattan Bridge Capital's (NASDAQ:LOAN) CEO Pay
Assaf Ran became the CEO of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) in 1989, and we think it's a good time to...
Simply Wall St. · 10/26/2020 15:46
Here's What We Think About Manhattan Bridge Capital's (NASDAQ:LOAN) CEO Pay
Assaf Ran became the CEO of Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) in 1989, and we think it's a good time to...
Simply Wall St. · 10/26/2020 15:46
Manhattan Bridge Capital, Inc. Declares an Increased Quarterly Dividend of $0.11 per Share
GREAT NECK, N.Y., Oct. 26, 2020 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that its board of directors has declared a quarterly dividend of $0.11 per share to be paid to all shareholders of record on December 31, 2020. The dividend will be paid on January 15, 2021.SOURCE: Manhattan Bridge Capital, Inc. CONTACT: Contact: Assaf Ran, CEO (516) 444-3400
GlobeNewswire · 10/26/2020 12:00
Manhattan Bridge Capital raises dividend by 10% to $0.11 per share
Manhattan Bridge Capital (LOAN) declares $0.11/share quarterly dividend, 10% increase from prior dividend of $0.10.Forward yield 10.45%Payable Jan. 15; for shareholders of record Dec. 31; ex-div Dec. 30.See LOAN Dividend
Seekingalpha · 10/26/2020 11:01
Manhattan Bridge Capital, Inc. Declares an Increased Quarterly Dividend of $0.11 per Share
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that its board of directors has declared a quarterly dividend of $0.11 per share to be paid to all shareholders of record on December 31, 2020. The dividend will be paid on January 15, 2021.
GlobeNewswire · 10/26/2020 11:00
Manhattan Bridge Capital, Inc. Declares an Increased Quarterly Dividend of $0.11 per Share
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that its board of directors has declared a quarterly dividend of $0.11 per share to be paid to all shareholders of record on December 31, 2020. The dividend will be paid on January 15, 2021.
GlobeNewswire · 10/26/2020 11:00
Manhattan Bridge Capital: Q3 Earnings Insights
Shares of Manhattan Bridge Capital (NASDAQ:LOAN) were unchanged after the company reported Q3 results.Quarterly Results Earnings per share increased 0.00% over the past year to $0.12, which beat the estimate of $0.10.Revenue of $1,786,000 declined by 6.83%...
Benzinga · 10/20/2020 12:46
Manhattan Bridge Capital: Q3 Earnings Insights
Shares of Manhattan Bridge Capital (NASDAQ:LOAN) were unchanged after the company reported Q3 results.Quarterly Results Earnings per share increased 0.00% over the past year to $0.12, which beat the estimate of $0.10.Revenue of $1,786,000 declined by 6.83% from the same period last year, which beat the estimate of $1,440,000.Guidance Earnings guidance hasn't been issued by the company for now.View more earnings on LOANManhattan Bridge Capital hasn't issued any revenue guidance for the time being.Technicals Company's 52-week high was at $6.50Company's 52-week low was at $2.54Price action over last quarter: Up 3.10%Company Overview Manhattan Bridge Capital Inc operates as a real estate investment trust that specializes in originating, servicing and managing a portfolio of first mortgage loans. It 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. The primary business objective of the company is to grow its loan portfolio while protecting and preserving capital in a manner that provides for attractive risk-adjusted returns to its shareholders over the long-term through dividends. The company generates revenue in the form of interest income from loans.See more from Benzinga * Options Trades For This Crazy Market: Get Benzinga Options to Follow High-Conviction Trade Ideas * A Look Into Real Estate Sector Value Stocks(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga · 10/20/2020 12:46
Manhattan Bridge Capital, Inc. Reports $0.12 EPS for the Third Quarter
GREAT NECK, N.Y., Oct. 20, 2020 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced today that its net income for the three months ended September 30, 2020 was approximately $1,151,000, or $0.12 per basic and diluted share (based on approximately 9.6 million weighted-average outstanding common shares), as compared to approximately $1,150,000, or $0.12 per basic and diluted share (based on approximately 9.7 million weighted-average outstanding common shares), for the three months ended September 30, 2019. Total revenues for the three months ended September 30, 2020 were approximately $1,786,000, as compared to approximately $1,917,000 for the three months ended September 30, 2019, a decrease of $131,000 or 6.8%. The decrease in revenue was primarily attributable to lower interest rates and origination fees charged on loans due to market conditions and intense competition from other lenders, as well as lower demand for new loans resulting from the COVID-19 pandemic. For the three months ended September 30, 2020 and 2019, approximately $1,521,000 and $1,619,000, respectively, of our revenues were attributable to interest income on secured commercial loans that we offer to small businesses, and approximately $265,000 and $298,000, respectively, of our revenues were attributable to origination fees on such loans.Net income for the nine months ended September 30, 2020 was approximately $3,264,000, or $0.34 per basic and diluted share (based on approximately 9.6 million weighted-average outstanding common shares), as compared to approximately $3,355,000, or $0.35 per basic and diluted share (based on approximately 9.7 million weighted-average outstanding common shares), for the nine months ended September 30, 2019, a decrease of $91,000, or 2.7%. This decrease is primarily attributable to the decrease in revenue, partially offset by the decrease in interest expense.Total revenues for the nine months ended September 30, 2020 were approximately $5,239,000, as compared to approximately $5,484,000 for the nine months ended September 30, 2019, a decrease of $245,000, or 4.5%. The decrease in revenue was primarily attributable to lower interest rates and origination fees charged on loans due to market conditions and intense competition from other lenders, as well as lower demand for new loans resulting from the COVID-19 pandemic. For the nine months ended September 30, 2020 and 2019, revenues of approximately $4,485,000 and $4,609,000, respectively, were attributable to interest income on the secured commercial loans that we offer to small businesses, and approximately $753,000 and $875,000, respectively, of our revenues were attributable to origination fees on such loans.Assaf Ran, Chairman of the Board and CEO, stated, “I am pleased to report that our conservative and careful policies have once again proven to protect our shareholders’ value during rough times. Not only do we continue to have no defaults, but we also managed to increase our earnings per share (EPS) to $0.12 for the quarter from $0.11 for the quarter ended June 30, 2020, and to continue distributing dividends during the difficult time we are experiencing due to the COVID-19 crisis.”About Manhattan Bridge Capital, Inc.Manhattan Bridge Capital, Inc. offers short-term secured, non–banking loans (sometimes referred to as “hard money” loans) to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area, including New Jersey and Connecticut, and in Florida. We operate the web site: https://www.manhattanbridgecapital.com.Forward Looking StatementsThis press release and the statements of our representatives related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate,” or “continue” are intended to identify forward-looking statements. For example, when we discuss our belief that our conservative and careful policies have protected our shareholders’ value during rough times, we are using forward-looking statements. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. Actual results may differ materially from those projected, expressed or implied in the forward-looking statements as a result of various factors, including but not limited to the following: (i) our loan origination activities, revenues and profits are limited by available funds; (ii) we operate in a highly competitive market and competition may limit our ability to originate loans with favorable interest rates; (iii) our Chief Executive Officer is critical to our business and our future success may depend on our ability to retain him; (iv) if we overestimate the yields on our loans or incorrectly value the collateral securing the loan, we may experience losses; (v) we may be subject to “lender liability” claims; (vi) our due diligence may not uncover all of a borrower’s liabilities or other risks to its business; (vii) borrower concentration could lead to significant losses; (viii) we may choose to make distributions in our own stock, in which case you may be required to pay income taxes in excess of the cash dividends you receive and (ix) if the effect of the COVID-19 pandemic on our business is greater than anticipated. The risk factors contained in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019 filed with the Securities and Exchange Commission identify important factors that could cause such differences. These forward-looking statements speak only as of the date of this press release, and we caution potential investors not to place undue reliance on such statements. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS September 30, 2020  December 31, 2019   (unaudited)  (audited)  Assets    Loans receivable$57,883,068 $53,485,014 Interest receivable on loans809,975 675,996 Cash         156,715 118,407 Other assets88,554 53,218 Operating lease right-of-use asset, net52,627 87,754 Deferred financing costs29,917 22,637 Total assets$59,020,856 $54,443,026 Liabilities and Stockholders’ Equity    Liabilities:    Line of credit$19,779,851  $15,232,993  Senior secured notes (net of deferred financing costs of $416,099 and $472,413, respectively) 5,583,901   5,527,587  Deferred origination fees 452,914   322,119  Accounts payable and accrued expenses 132,582   151,823  Operating lease liability 55,566   91,025  Other liabilities \---   15,000  Dividends payable \---   1,159,061  Total liabilities 26,004,814   22,499,608  Commitments and contingencies    Stockholders’ equity:    Preferred shares - $.01 par value; 5,000,000 shares authorized; none issued \---   \---  Common shares - $.001 par value; 25,000,000 shares authorized; 9,882,058 issued; 9,619,945 and 9,658,844 outstanding, respectively 9,882   9,882  Additional paid-in capital 33,153,830   33,144,032  Treasury stock, at cost – 262,113 and 223,214 shares (798,939)  (619,688) Retained earnings (accumulated deficit) 651,269   (590,808) Total stockholders’ equity 33,016,042   31,943,418           Total liabilities and stockholders’ equity$59,020,856  $54,443,026  MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) Three Months Nine Months   Ended September 30,Ended September 30,   2020 2019 2020  2019  Interest income from loans$1,521,474$1,618,735$4,485,414 $4,608,936  Origination fees 264,878 298,222 753,111  875,449  Total revenue 1,786,352 1,916,957 5,238,525  5,484,385        Operating costs and expenses:     Interest and amortization of debt service costs 337,901 454,307 1,016,590  1,220,700  Referral fees 1,641 861 3,569  3,569  General and administrative expenses 305,407 314,820 968,914  913,175  Total operating costs and expenses 644,949 769,988 1,989,073  2,137,444  Income from operations 1,141,403 1,146,969 3,249,452  3,346,941  Other income 9,500 3,000 15,500  9,000  Income before income tax expense 1,150,903 1,149,969 3,264,952  3,355,941  Income tax expense \--- \--- (645) (572) Net income$1,150,903$1,149,969$3,264,307 $3,355,369        Basic and diluted net income per common share outstanding:     \--Basic$0.12$0.12$0.34 $0.35  \--Diluted$0.12$0.12$0.34 $0.35        Weighted average number of common shares outstanding     \--Basic 9,625,140 9,658,608 9,635,107  9,657,911  \--Diluted 9,625,140 9,659,764 9,635,107  9,659,012  MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY (unaudited)FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2020 Common SharesAdditional Paid in CapitalTreasury StockRetained EarningsTotals  SharesAmount SharesCost   Balance, July 1, 20209,882,058$9,882$33,150,564255,213$(771,559)$ 463,050$ 32,851,937 Purchase of treasury shares   6,900 (27,380)  (27,380) Non - cash compensation   3,266    3,266 Dividends paid      (962,684) (962,684) Net income      1,150,903 1,150,903 Balance, September 30, 20209,882,058$9,882$33,153,830262,113$(798,939)$ 651,269$ 33,016,042 FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2019 Common SharesAdditional Paid in CapitalTreasury StockRetained EarningsTotals  SharesAmount SharesCost   Balance, July 1, 20199,881,191$9,881$33,137,501223,214$(619,688)$ 597,161$ 33,124,855 Exercise of warrants867 1 (1)    0 Non-cash compensation   3,266    3,266 Dividends paid      (1,158,957) (1,158,957) Net income      1,149,969 1,149,969 Balance, September 30, 20199,882,058$9,882$33,140,766223,214$(619,688)$ 588,173$ 33,119,133 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2020  Common SharesAdditional Paid in CapitalTreasury StockAccumulated Deficit (Retained Earnings)Totals  SharesAmount SharesCost   Balance, January 1, 20209,882,058$9,882$33,144,032223,214$(619,688)$ (590,808)$ 31,943,418 Non-cash compensation   9,798    9,798 Purchase of treasury shares   38,899 (179,251)  (179,251) Dividends paid      (2,022,230) (2,022,230) Net income      3,264,307 3,264,307 Balance, September 30, 20209,882,058$9,882$33,153,830262,113$(798,939)$ 651,269$ 33,016,042 FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2019 Common SharesAdditional Paid in CapitalTreasury StockAccumulated Deficit (Retained Earnings)Totals  SharesAmount SharesCost   Balance, January 1, 20199,874,191$9,874$33,110,536218,214$(590,234)$(448,801)$ 32,081,375 Exercise of options and warrants7,867 8 20,432    20,440 Purchase of treasury shares   5,000 (29,454)  (29,454) Non-cash compensation   9,798    9,798 Dividends paid      (2,318,395) (2,318,395) Net income      3,355,369 3,355,369 Balance, September 30, 20199,882,058$9,882$33,140,766223,214$(619,688)$ 588,173$ 33,119,133 MANHATTAN BRIDGE CAPITAL, INC. AND SUBSIDIARY CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited)Nine Months Ended September 30,   Nine Months     Ended September 30,            2020    2019  Cash flows from operating activities:     Net income $3,264,307  $3,355,369  Adjustments to reconcile net income to net cash provided by   operating activities -     Amortization of deferred financing costs  76,136   70,867  Adjustment to operating lease right-of-use asset and liability  (333)  \---  Depreciation  744   1,157  Non-cash compensation expense  9,798   9,798  Changes in operating assets and liabilities:     Interest receivable on loans  (163,650)  (167,194) Other assets  (35,156)  (26,209) Accounts payable and accrued expenses  (19,241)  (19,134) Deferred origination fees  130,795   (461) Net cash provided by operating activities  3,263,400   3,224,193        Cash flows from investing activities:     Issuance of short term loans  (35,410,076)  (38,246,965) Collections received from loans  31,041,693   33,375,420  Release of loan holdback relating to mortgage receivable  (15,000)  \---  Purchase of fixed assets  (923)  \---  Net cash used in investing activities  (4,384,306)  (4,871,545)       Cash flows from financing activities:     Proceeds from line of credit, net  4,546,858   5,241,895  Dividends paid  (3,181,291)  (3,477,112) Purchase of treasury shares  (179,251)  (29,454) Deferred financing costs incurred  (27,102)  \---  Proceeds from exercise of stock options  \---   20,440  Net cash provided by financing activities  1,159,214   1,755,769        Net increase in cash  38,308   108,417  Cash, beginning of period  118,407   355,057  Cash, end of period $156,715  $463,474        Supplemental Cash Flow Information:     Taxes paid during the period $645  $572  Interest paid during the period $954,622  $1,144,425  Operating leases paid during the period $40,973  $39,628        Non-cash Investing Activities:     Establishment of right-of-use asset and operating lease liability $\---   $135,270  Interest receivable converted to loans receivable in connection with forbearance agreements $29,671   $\---  Loan holdback relating to mortgage receivable $\---   $15,000  CONTACT: Contact: Assaf Ran, CEO Vanessa Kao, CFO (516) 444-3400 SOURCE: Manhattan Bridge Capital, Inc.
GlobeNewswire · 10/20/2020 12:05
Manhattan Bridge Capital, Inc. Reports $0.12 EPS for the Third Quarter
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced today that its net income for the three months ended September 30, 2020 was approximately $1,151,000, or $0.12 per basic and diluted share (based on approximately 9.6 million weighted-average outstanding common shares), as compared to approximately $1,150,000, or $0.12 per basic and diluted share (based on approximately 9.7 million weighted-average outstanding common shares), for the three months ended September 30, 2019.
GlobeNewswire · 10/20/2020 11:22
Manhattan Bridge Capital, Inc. Reports $0.12 EPS for the Third Quarter
Manhattan Bridge Capital, Inc. (Nasdaq: LOAN) announced today that its net income for the three months ended September 30, 2020 was approximately $1,151,000, or $0.12 per basic and diluted share (based on approximately 9.6 million weighted-average outstand...
GlobeNewswire · 10/20/2020 11:22
Manhattan Bridge Capital Q3 EPS $0.12, Same YoY, Sales $1.79M Down From $1.92M YoY
Manhattan Bridge Capital (NASDAQ:LOAN) reported quarterly earnings of $0.12 per share. This is unchanged from the same period last year. The company reported $1.79 million in sales this quarter. This is a 6.83 percent
Benzinga · 10/20/2020 11:11
Manhattan Bridge Capital reports Q3 results
Manhattan Bridge Capital (LOAN): Q3 GAAP EPS of $0.12.Revenue of $1.79M (-6.8% Y/Y)Press Release
Seekingalpha · 10/20/2020 11:10
Stocks Trading Ex-Dividend Today, Thursday, Oct. 8, 2020
Marvell Technology (MRVL) - Pays a quarterly dividend of $0.06 per share, or a 0.63% yield. The dividend will be payable October 28.  US Global Investors (GROW) - The company’s monthly dividend of $0.0025
Benzinga · 10/08/2020 13:52
Manhattan Bridge Capital, Inc. Announces Payment of Quarterly Dividend
GREAT NECK, N.Y., Sept. 24, 2020 (GLOBE NEWSWIRE) -- Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that, in accordance with the board approved dividend declared on July 30, 2020, a cash dividend of $0.10 per share will be paid to all shareholders of record on October 9, 2020. The dividend
GlobeNewswire · 09/24/2020 12:00
Manhattan Bridge Capital declares $0.10 dividend
Manhattan Bridge Capital (LOAN) declares $0.10/share quarterly dividend, in line with previous.Forward yield 9.59%Payable Oct. 15; for shareholders of record Oct. 9; ex-div Oct. 8.See LOAN Dividend Scorecard, Yield Chart,
Seekingalpha · 09/24/2020 11:07
Manhattan Bridge Capital, Inc. Announces Payment of Quarterly Dividend
Manhattan Bridge Capital, Inc. (NASDAQ: LOAN) announced today that, in accordance with the board approved dividend declared on July 30, 2020, a cash dividend of $0.10 per share will be paid to all shareholders of record on October 9, 2020. The dividend wil...
GlobeNewswire · 09/24/2020 11:00
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About LOAN
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. Its primary business objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for risk-adjusted returns to its shareholders over the long term through dividends. It intends to achieve this objective by continuing to selectively originate, fund loans secured by first mortgages on residential real estate held for investment located in the New York metropolitan area, and to manage and service its portfolio in a manner designed to generate risk-adjusted returns across a range of market conditions and economic cycles. Its loan portfolio includes various construction loans.
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