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

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 dividend on an annualized basis and a dividend yield of 9.84%. The ex-dividend date is Tuesday, June 11th.

MidCap Financial Investment has a payout ratio of 93.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 1.1 %

Shares of MFIC stock traded up $0.17 during trading hours on Thursday, reaching $15.44. The company had a trading volume of 140,751 shares, compared to its average volume of 230,678. The company has a debt-to-equity ratio of 1.45, a quick ratio of 4.43 and a current ratio of 4.43. MidCap Financial Investment has a twelve month low of $11.21 and a twelve month high of $15.55. The stock’s fifty day simple moving average is $14.91 and its 200 day simple moving average is $14.07. The company has a market capitalization of $1.01 billion, a P/E ratio of 8.49 and a beta of 1.45.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $71.95 million for the quarter, compared to analyst estimates of $68.44 million. MidCap Financial Investment had a net margin of 42.95% and a return on equity of 15.50%. During the same quarter in the prior year, the business posted $0.43 EPS. As a group, sell-side analysts expect that MidCap Financial Investment will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

About MidCap Financial Investment

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.