MidCap Financial Investment Corporation Plans Quarterly Dividend of $0.38 (NASDAQ:MFIC)

MidCap Financial Investment Corporation (NASDAQ:MFIC) announced a quarterly dividend on Thursday, November 6th. Investors of record on Tuesday, December 9th will be given a dividend of 0.38 per share on Tuesday, December 23rd. This represents a c) annualized dividend and a yield of 12.8%. The ex-dividend date of this dividend is Tuesday, December 9th.

MidCap Financial Investment has decreased its dividend by an average of 0.0%per year over the last three years. MidCap Financial Investment has a dividend payout ratio of 101.3% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. 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 Stock Performance

Shares of MFIC stock traded down $0.25 during trading on Friday, hitting $11.87. The company’s stock had a trading volume of 204,798 shares, compared to its average volume of 443,628. The company has a market cap of $1.11 billion, a PE ratio of 11.01 and a beta of 1.00. MidCap Financial Investment has a 52 week low of $10.18 and a 52 week high of $14.74. The company has a current ratio of 3.53, a quick ratio of 3.53 and a debt-to-equity ratio of 1.49. The business has a fifty day moving average of $12.19 and a 200-day moving average of $12.50.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.38 EPS for the quarter, meeting analysts’ consensus estimates of $0.38. MidCap Financial Investment had a net margin of 30.60% and a return on equity of 10.44%. The business had revenue of $82.58 million for the quarter, compared to analysts’ expectations of $83.56 million. As a group, research analysts anticipate that MidCap Financial Investment will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

MFIC has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on shares of MidCap Financial Investment from $12.50 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 1st. Keefe, Bruyette & Woods lowered shares of MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price target for the company. in a research note on Wednesday, July 23rd. Raymond James Financial set a $13.50 price target on MidCap Financial Investment and gave the company an “outperform” rating in a research report on Tuesday, October 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of MidCap Financial Investment in a research note on Wednesday, October 8th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $13.00 price objective on shares of MidCap Financial Investment in a research note on Monday, August 25th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, MidCap Financial Investment presently has an average rating of “Hold” and a consensus price target of $13.42.

MidCap Financial Investment Company Profile

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.