MidCap Financial Investment Co. (NASDAQ:MFIC) Announces $0.38 Quarterly Dividend

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Shareholders of record on Tuesday, June 11th will be given a dividend of 0.38 per share on Thursday, June 27th. This represents a $1.52 annualized dividend and a yield of 9.87%. The ex-dividend date is Tuesday, June 11th.

MidCap Financial Investment has a dividend payout ratio of 93.3% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect MidCap Financial Investment to earn $1.63 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 93.3%.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC traded up $0.13 during trading on Thursday, reaching $15.40. 199,448 shares of the stock were exchanged, compared to its average volume of 231,398. MidCap Financial Investment has a 12 month low of $11.21 and a 12 month high of $15.55. The stock has a 50-day moving average price of $14.91 and a 200-day moving average price of $14.07. The company has a current ratio of 4.43, a quick ratio of 4.43 and a debt-to-equity ratio of 1.45. The firm has a market cap of $1.00 billion, a PE ratio of 8.49 and a beta of 1.45.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.03. The business had revenue of $71.95 million during the quarter, compared to the consensus estimate of $68.44 million. MidCap Financial Investment had a return on equity of 15.50% and a net margin of 42.95%. During the same period in the previous year, the company posted $0.43 EPS. Research analysts expect that MidCap Financial Investment will post 1.72 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of MidCap Financial Investment from $13.00 to $14.50 and gave the stock an “overweight” rating in a research report on Monday, January 29th. Truist Financial boosted their price target on MidCap Financial Investment from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Royal Bank of Canada lifted their price objective on MidCap Financial Investment from $14.00 to $15.00 and gave the company a “sector perform” rating in a report on Wednesday, February 28th. JPMorgan Chase & Co. increased their target price on MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a report on Wednesday, February 28th. Finally, Citigroup boosted their price target on MidCap Financial Investment from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.79.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (Former name Apollo Investment Corporation) is business development company and a closed-end, externally managed, non-diversified management investment company. It is elected to be treated as a business development company (BDC) under the Investment Company Act of 1940 (the 1940 Act) specializing in private equity investments in leveraged buyouts, acquisitions, recapitalizations, growth capital, refinancing and private middle market companies.