MidCap Financial Investment (NASDAQ:MFIC) Price Target Raised to $15.00

MidCap Financial Investment (NASDAQ:MFIC) had its target price increased by Wells Fargo & Company from $14.00 to $15.00 in a report published on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Royal Bank of Canada restated a “sector perform” rating and set a $14.00 price target on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $14.86.

MidCap Financial Investment Trading Down 1.0 %

Shares of MFIC stock opened at $13.76 on Wednesday. The firm’s 50-day simple moving average is $13.66 and its 200-day simple moving average is $13.70. The company has a debt-to-equity ratio of 1.25, a current ratio of 8.51 and a quick ratio of 8.51. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The firm has a market cap of $1.29 billion, a P/E ratio of 8.82 and a beta of 1.48.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $82.14 million for the quarter, compared to analyst estimates of $82.68 million. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. During the same quarter last year, the business earned $0.43 EPS. As a group, equities analysts forecast that MidCap Financial Investment will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Shareholders of record on Tuesday, December 10th were paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.05%. The ex-dividend date of this dividend was Tuesday, December 10th. MidCap Financial Investment’s dividend payout ratio is presently 97.44%.

Institutional Investors Weigh In On MidCap Financial Investment

A number of large investors have recently modified their holdings of MFIC. Van ECK Associates Corp boosted its holdings in MidCap Financial Investment by 4.5% in the 4th quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company’s stock worth $32,005,000 after acquiring an additional 102,406 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of MidCap Financial Investment by 0.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock valued at $28,880,000 after purchasing an additional 10,669 shares during the period. Advisors Asset Management Inc. grew its holdings in MidCap Financial Investment by 139.5% during the 3rd quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock valued at $5,952,000 after purchasing an additional 258,940 shares in the last quarter. Foundations Investment Advisors LLC increased its stake in MidCap Financial Investment by 28.4% during the 4th quarter. Foundations Investment Advisors LLC now owns 400,034 shares of the company’s stock worth $5,396,000 after buying an additional 88,468 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in MidCap Financial Investment by 32.4% in the 3rd quarter. Franklin Resources Inc. now owns 384,054 shares of the company’s stock worth $5,116,000 after buying an additional 93,972 shares in the last quarter. Institutional investors and hedge funds own 28.45% of the company’s stock.

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.