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

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Thursday, February 27th, Wall Street Journal reports. Stockholders of record on Tuesday, March 11th will be paid a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 annualized dividend and a dividend yield of 11.09%. The ex-dividend date of this dividend is Tuesday, March 11th.

MidCap Financial Investment has raised its dividend payment by an average of 6.1% per year over the last three years. MidCap Financial Investment has a dividend payout ratio of 95.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research 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 Trading Down 0.3 %

Shares of MFIC traded down $0.04 during trading hours on Thursday, hitting $13.71. 537,088 shares of the stock traded hands, compared to its average volume of 353,979. The company has a current ratio of 8.51, a quick ratio of 8.51 and a debt-to-equity ratio of 1.25. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. The firm has a market capitalization of $1.29 billion, a PE ratio of 8.79 and a beta of 1.48. The business has a fifty day moving average of $13.82 and a 200-day moving average of $13.69.

MidCap Financial Investment (NASDAQ:MFIC) last released its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 EPS for the quarter, hitting analysts’ consensus estimates of $0.40. The company had revenue of $82.16 million for the quarter, compared to analyst estimates of $86.28 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. Analysts expect that MidCap Financial Investment will post 1.73 EPS for the current year.

Wall Street Analysts Forecast Growth

MFIC has been the subject of several research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $14.00 price target on shares of MidCap Financial Investment in a report on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, MidCap Financial Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.71.

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.