First Commonwealth Financial Corp PA Purchases New Shares in MidCap Financial Investment Co. (NASDAQ:MFIC)

First Commonwealth Financial Corp PA bought a new stake in MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 24,175 shares of the company's stock, valued at approximately $326,000.

A number of other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its holdings in shares of MidCap Financial Investment by 273.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,640 shares of the company's stock valued at $1,897,000 after buying an additional 103,741 shares during the last quarter. Barclays PLC raised its holdings in shares of MidCap Financial Investment by 190,106.2% in the 3rd quarter. Barclays PLC now owns 123,634 shares of the company's stock valued at $1,656,000 after purchasing an additional 123,569 shares during the period. Franklin Resources Inc. lifted its stake in MidCap Financial Investment by 32.4% in the 3rd quarter. Franklin Resources Inc. now owns 384,054 shares of the company's stock valued at $5,116,000 after purchasing an additional 93,972 shares during the last quarter. J.W. Cole Advisors Inc. grew its holdings in MidCap Financial Investment by 74.4% during the fourth quarter. J.W. Cole Advisors Inc. now owns 81,756 shares of the company's stock worth $1,103,000 after purchasing an additional 34,875 shares during the period. Finally, Hennion & Walsh Asset Management Inc. raised its stake in MidCap Financial Investment by 11.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 356,657 shares of the company's stock valued at $4,811,000 after buying an additional 35,341 shares during the period. Institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Price Performance

Shares of NASDAQ:MFIC traded up $0.17 during midday trading on Wednesday, hitting $11.80. The stock had a trading volume of 85,676 shares, compared to its average volume of 415,935. MidCap Financial Investment Co. has a fifty-two week low of $10.18 and a fifty-two week high of $16.37. The company has a market capitalization of $1.11 billion, a P/E ratio of 7.56 and a beta of 1.13. The company has a quick ratio of 8.51, a current ratio of 8.51 and a debt-to-equity ratio of 1.25. The company's 50-day moving average price is $12.78 and its 200-day moving average price is $13.34.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.40. The firm had revenue of $82.16 million for the quarter, compared to analysts' expectations of $86.28 million. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. As a group, equities research analysts predict that MidCap Financial Investment Co. will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th were issued a dividend of $0.38 per share. The ex-dividend date was Tuesday, March 11th. This represents a $1.52 dividend on an annualized basis and a yield of 12.88%. MidCap Financial Investment's payout ratio is currently 116.03%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on MFIC. Keefe, Bruyette & Woods dropped their price target on MidCap Financial Investment from $15.00 to $14.50 and set an "outperform" rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company cut their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set an "overweight" rating for the company in a research report on Thursday, February 27th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $14.50.

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.