MidCap Financial Investment Co. (MFIC) To Go Ex-Dividend on September 10th

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Tuesday, August 6th, 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 10.94%. 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 93.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. 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 Price Performance

NASDAQ:MFIC opened at $13.89 on Friday. The firm has a market cap of $906.36 million, a PE ratio of 7.94 and a beta of 1.50. The company’s 50-day moving average price is $14.32 and its two-hundred day moving average price is $14.83. The company has a quick ratio of 3.02, a current ratio of 3.02 and a debt-to-equity ratio of 1.51. MidCap Financial Investment has a 12 month low of $12.26 and a 12 month high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings data 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 firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $68.02 million. During the same quarter in the previous year, the company posted $0.44 EPS. On average, equities analysts anticipate that MidCap Financial Investment will post 1.73 EPS for the current fiscal year.

Analysts Set New Price Targets

MFIC has been the topic of several research analyst reports. Wells Fargo & Company decreased their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. JPMorgan Chase & Co. cut their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Compass Point upgraded MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Thursday, July 25th. Finally, 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 research report on Monday, August 5th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, MidCap Financial Investment currently 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.