MidCap Financial Investment Co. to Issue Quarterly Dividend of $0.38 (NASDAQ:MFIC)

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

MidCap Financial Investment has a 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. Research 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 Up 0.9 %

NASDAQ:MFIC traded up $0.13 on Thursday, hitting $15.40. The stock had a trading volume of 199,448 shares, compared to its average volume of 231,344. MidCap Financial Investment has a 52 week low of $11.21 and a 52 week high of $15.55. The business’s fifty day moving average is $14.91 and its 200 day moving average is $14.07. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 1.45. The company 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 issued its quarterly earnings data on Monday, February 26th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.43 by $0.03. MidCap Financial Investment had a return on equity of 15.50% and a net margin of 42.95%. The firm had revenue of $71.95 million during the quarter, compared to the consensus estimate of $68.44 million. During the same period in the prior year, the business posted $0.43 earnings per share. On average, equities research analysts expect that MidCap Financial Investment will post 1.72 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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