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

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Tuesday, December 10th will be given a dividend of 0.38 per share on Thursday, December 26th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.20%. The ex-dividend date of this dividend is Tuesday, December 10th.

MidCap Financial Investment has a dividend payout ratio of 94.4% indicating that 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 $1.56 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 97.4%.

MidCap Financial Investment Stock Performance

Shares of MidCap Financial Investment stock traded down $0.08 during trading hours on Friday, reaching $13.57. The company had a trading volume of 98,251 shares, compared to its average volume of 320,637. MidCap Financial Investment has a one year low of $12.26 and a one year high of $16.36. The business has a fifty day simple moving average of $13.49 and a 200 day simple moving average of $14.44. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02. The firm has a market cap of $1.27 billion, a PE ratio of 8.75 and a beta of 1.50.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $68.02 million. During the same period last year, the company earned $0.44 earnings per share. On average, analysts anticipate that MidCap Financial Investment will post 1.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on MFIC. JPMorgan Chase & Co. dropped their price objective on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, July 29th. Wells Fargo & Company dropped their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, July 25th. Finally, Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective for the company in a research note on Monday, August 5th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.86.

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.