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

MidCap Financial Investment Co. (NASDAQ:MFIC) announced a quarterly dividend on Friday, February 21st, Wall Street Journal reports. Investors of record on Tuesday, March 11th will be paid a dividend of 0.38 per share on Thursday, March 27th. This represents a $1.52 annualized dividend and a dividend yield of 11.38%. The ex-dividend date is Tuesday, March 11th.

MidCap Financial Investment has raised its dividend by an average of 6.1% annually over the last three years. MidCap Financial Investment has a dividend payout ratio of 95.6% 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 $1.60 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 Up 1.4 %

Shares of NASDAQ:MFIC opened at $13.36 on Friday. 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 business has a fifty day moving average of $13.81 and a two-hundred day moving average of $13.69. The stock has a market cap of $1.25 billion, a P/E ratio of 8.56 and a beta of 1.49. MidCap Financial Investment has a 52-week low of $12.26 and a 52-week high of $16.37.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.40. The company had revenue of $82.16 million during 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%. On average, research analysts expect that MidCap Financial Investment will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MFIC shares. Royal Bank of Canada restated a “sector perform” rating and issued a $14.00 target price on shares of MidCap Financial Investment in a report on Tuesday, November 19th. Wells Fargo & Company dropped their target price on MidCap Financial Investment from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, MidCap Financial Investment has an average rating of “Moderate Buy” and a consensus price target of $14.60.

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.