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

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Tuesday, August 6th, Zacks reports. Shareholders of record on Tuesday, September 10th will be given a dividend of 0.38 per share on Thursday, September 26th. This represents a $1.52 dividend on an annualized basis and a yield of 10.94%. The ex-dividend date is Tuesday, September 10th. This is a boost from MidCap Financial Investment’s previous quarterly dividend of $0.20.

MidCap Financial Investment has a dividend payout ratio of 93.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect MidCap Financial Investment to earn $1.62 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 93.8%.

MidCap Financial Investment Trading Down 0.1 %

Shares of MidCap Financial Investment stock opened at $13.89 on Friday. MidCap Financial Investment has a 1-year low of $12.26 and a 1-year high of $16.36. 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 stock has a market cap of $906.36 million, a P/E ratio of 7.94 and a beta of 1.50. The stock’s 50 day simple moving average is $14.32 and its 200-day simple moving average is $14.83.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $68.02 million. During the same period in the prior year, the business earned $0.44 EPS. Analysts predict that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MFIC. Keefe, Bruyette & Woods upgraded shares of 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, August 5th. JPMorgan Chase & Co. cut their target price 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. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, July 25th. Finally, Wells Fargo & Company cut their price objective on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.