MidCap Financial Investment Co. (NASDAQ:MFIC) to Issue Dividend Increase – $0.38 Per Share

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Wednesday, August 7th, Zacks reports. Stockholders of record on Tuesday, September 10th will be paid a dividend of 0.38 per share on Thursday, September 26th. This represents a $1.52 annualized dividend and a dividend yield of 11.65%. The ex-dividend date is Tuesday, September 10th. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20.

MidCap Financial Investment has a dividend payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect MidCap Financial Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 48.5%.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC traded down $0.29 during trading on Friday, hitting $13.05. The stock had a trading volume of 277,535 shares, compared to its average volume of 288,226. MidCap Financial Investment has a 12-month low of $12.26 and a 12-month high of $16.36. The stock has a market capitalization of $851.55 million, a price-to-earnings ratio of 7.46 and a beta of 1.50. The company has a quick ratio of 2.76, a current ratio of 2.76 and a debt-to-equity ratio of 1.40. The stock has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $14.86.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Tuesday, May 7th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $68.33 million for the quarter, compared to analyst estimates of $69.48 million. MidCap Financial Investment had a return on equity of 11.51% and a net margin of 41.19%. On average, equities research analysts expect that MidCap Financial Investment will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on MFIC. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a report on Monday. JPMorgan Chase & Co. cut their price target 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 reduced their price target on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a report on Friday. Finally, Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

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.