MidCap Financial Investment (NASDAQ:MFIC) Given New $14.00 Price Target at Wells Fargo & Company

MidCap Financial Investment (NASDAQ:MFIC - Free Report) had its price objective reduced by Wells Fargo & Company from $15.00 to $14.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently weighed in on MFIC. JPMorgan Chase & Co. decreased their target price on shares of MidCap Financial Investment from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, July 29th. Keefe, Bruyette & Woods raised shares of 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. Finally, Compass Point upgraded MidCap Financial Investment from a "neutral" rating to a "buy" rating and set a $16.00 target price for the company in a research note 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's stock. According to MarketBeat.com, MidCap Financial Investment currently has a consensus rating of "Moderate Buy" and a consensus price target of $14.86.

MidCap Financial Investment Stock Down 1.3 %

NASDAQ MFIC traded down $0.17 during trading hours on Tuesday, hitting $13.37. The company had a trading volume of 278,027 shares, compared to its average volume of 321,559. The firm's 50 day moving average is $13.55 and its 200 day moving average is $14.51. The company has a market capitalization of $872.43 million, a price-to-earnings ratio of 7.64 and a beta of 1.50. MidCap Financial Investment has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The company has a debt-to-equity ratio of 1.51, a current ratio of 3.02 and a quick ratio of 3.02.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.43 by $0.02. The business had revenue of $69.16 million for the quarter, compared to the consensus estimate of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same period last year, the business posted $0.44 EPS. Sell-side analysts anticipate that MidCap Financial Investment will post 1.72 earnings per share for the current fiscal year.

MidCap Financial Investment Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $1.52 annualized dividend and a dividend yield of 11.37%. This is an increase from MidCap Financial Investment's previous quarterly dividend of $0.20. MidCap Financial Investment's payout ratio is presently 86.86%.

Hedge Funds Weigh In On MidCap Financial Investment

Large investors have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in MidCap Financial Investment during the first quarter valued at approximately $532,000. Hennion & Walsh Asset Management Inc. raised its holdings in shares of MidCap Financial Investment by 19.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company's stock worth $3,984,000 after purchasing an additional 42,723 shares during the period. MQS Management LLC bought a new position in shares of MidCap Financial Investment in the 2nd quarter worth about $575,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of MidCap Financial Investment by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company's stock valued at $2,739,000 after buying an additional 1,057 shares during the period. Finally, Condor Capital Management grew its position in shares of MidCap Financial Investment by 16.3% during the 2nd quarter. Condor Capital Management now owns 306,024 shares of the company's stock valued at $4,633,000 after buying an additional 42,939 shares during the last quarter. Institutional investors own 28.45% of the company's stock.

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.