Manhattan Bridge Capital Inc. (NASDAQ:LOAN)’s shares up by 10.06%

Boston, MA 05/22/2013 (wallstreetpr) – The share price of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) surged by 10.06 percent to close at $1.64 per share for the last trading session. The company is involved in offering short term, secured, non banking loans through its wholly owned subsidiaries. Manhattan Bridge Capital Inc. (NASDAQ:LOAN) specifically focuses on issuing loans to real estate investors who look out to acquire and construct properties in the New York Metropolitan area. The loans issued by Manhattan Bridge Capital Inc. (NASDAQ:LOAN) are basically secured with collaterals of the real estate properties and also include additional guarantees secured by the principals of real estate companies.

Results for first quarter, 2013

The financial reports for the first quarter 2013 were released recently in which Manhattan Bridge Capital Inc. (NASDAQ:LOAN) registered an increase of 36.2 percent in the total revenues over the same quarter of previous year. The net income for the shareholders of Manhattan Bridge Capital Inc. (NASDAQ:LOAN) for the first quarter of the fiscal year was reported as $0.04 per basic and diluted share compared to $0.03 per share for the same quarter of the previous year.

Manhattan Bridge Capital Inc. (NASDAQ:LOAN) had been continually registering a stable pattern of growth in its revenues with consistency in the net income. The market capitalization of the lending firm is $7 million and the average trading volume is 10,090 shares. Manhattan Bridge Capital Inc. (NASDAQ:LOAN) has floated 4.27 million shares to the equity holders and the institutional ownership of the firm is 5 percent of its holdings.

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Published by Nicholas Maithya

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