MidCap Financial Investment Co. (MFIC) To Go Ex-Dividend on June 11th

MidCap Financial Investment Co. (NASDAQ:MFIC) declared a quarterly dividend on Tuesday, May 7th, Zacks reports. Stockholders of record on Tuesday, June 11th will be given a dividend of 0.38 per share on Thursday, June 27th. This represents a $1.52 annualized dividend and a dividend yield of 9.87%. The ex-dividend date is Tuesday, June 11th.

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 decline. Analysts expect MidCap Financial Investment to earn $1.63 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 93.3%.

MidCap Financial Investment Stock Up 0.9 %

MFIC traded up $0.13 during trading on Thursday, hitting $15.40. The company had a trading volume of 199,448 shares, compared to its average volume of 231,398. The business has a 50-day moving average of $14.91 and a 200-day moving average of $14.07. The company has a market cap of $1.00 billion, a PE ratio of 8.49 and a beta of 1.45. MidCap Financial Investment has a 1-year low of $11.21 and a 1-year high of $15.55. The company has a debt-to-equity ratio of 1.45, a current ratio of 4.43 and a quick ratio of 4.43.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.03. MidCap Financial Investment had a return on equity of 15.50% and a net margin of 42.95%. The firm had revenue of $71.95 million during the quarter, compared to analyst estimates of $68.44 million. During the same period in the previous year, the company earned $0.43 earnings per share. As a group, analysts forecast that MidCap Financial Investment will post 1.72 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MFIC shares. Royal Bank of Canada lifted their price objective on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 28th. Citigroup upped their target price on MidCap Financial Investment from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Wells Fargo & Company boosted their price objective on MidCap Financial Investment from $13.00 to $14.50 and gave the stock an “overweight” rating in a research note on Monday, January 29th. Truist Financial raised their target price on MidCap Financial Investment from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their price target on shares of MidCap Financial Investment from $14.00 to $14.50 and gave the stock a “neutral” rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.79.

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.