MidCap Financial Investment Co. (NASDAQ:MFIC) Declares $0.38 Quarterly Dividend

MidCap Financial Investment Co. (NASDAQ:MFIC - Get Free Report) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Tuesday, December 10th will be given a dividend of 0.38 per share on Thursday, December 26th. This represents a $1.52 annualized dividend and a yield of 11.30%. The ex-dividend date of this dividend is Tuesday, December 10th.

MidCap Financial Investment has a dividend payout ratio of 94.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect MidCap Financial Investment to earn $1.56 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 97.4%.

MidCap Financial Investment Price Performance

MidCap Financial Investment stock traded down $0.20 during mid-day trading on Friday, hitting $13.45. The company's stock had a trading volume of 540,951 shares, compared to its average volume of 322,678. The stock has a market capitalization of $1.26 billion, a P/E ratio of 8.75 and a beta of 1.50. MidCap Financial Investment has a twelve month low of $12.26 and a twelve month high of $16.36. The stock's fifty day moving average price is $13.49 and its two-hundred day moving average price is $14.44. 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 (NASDAQ:MFIC - Get Free Report) last issued its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $69.16 million for the quarter, compared to analysts' expectations of $68.02 million. During the same period in the previous year, the firm posted $0.44 EPS. Research analysts forecast that MidCap Financial Investment will post 1.72 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MFIC shares. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a "market perform" rating to an "outperform" rating and set a $15.00 price objective for the company in a research report on Monday, August 5th. JPMorgan Chase & Co. lowered their price objective on shares of MidCap Financial Investment from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, July 29th. Wells Fargo & Company cut their target price 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 Tuesday, October 29th. Finally, Compass Point upgraded shares of MidCap Financial Investment from a "neutral" rating to a "buy" rating and set a $16.00 price target on the stock in a report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $14.86.

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.