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

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Wednesday, May 7th, Wall Street Journal reports. Investors of record on Tuesday, June 10th will be paid a dividend of 0.38 per share on Thursday, June 26th. This represents a $1.52 dividend on an annualized basis and a yield of 11.62%. The ex-dividend date of this dividend is Tuesday, June 10th.

MidCap Financial Investment has raised its dividend by an average of 6.1% per year over the last three years. MidCap Financial Investment has a payout ratio of 101.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect MidCap Financial Investment to earn $1.60 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 95.0%.

MidCap Financial Investment Price Performance

Shares of NASDAQ:MFIC opened at $13.08 on Friday. The company has a 50-day simple moving average of $12.15 and a 200-day simple moving average of $13.13. MidCap Financial Investment has a one year low of $10.18 and a one year high of $16.10. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.38 and a beta of 0.99.

MidCap Financial Investment (NASDAQ:MFIC) last announced its earnings results on Monday, May 12th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The business had revenue of $78.70 million during the quarter, compared to analysts’ expectations of $82.49 million. On average, analysts predict that MidCap Financial Investment will post 1.73 EPS for the current year.

Hedge Funds Weigh In On MidCap Financial Investment

A hedge fund recently bought a new stake in MidCap Financial Investment stock. Caxton Associates LLP acquired a new stake in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,886 shares of the company’s stock, valued at approximately $166,000. Institutional investors own 28.45% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Thursday, April 24th. Truist Financial cut their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Keefe, Bruyette & Woods cut their price target on shares of MidCap Financial Investment from $15.00 to $14.50 and set an “outperform” rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company cut their price target on shares of MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $14.00.

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.