PNC Financial Services Group Inc. Decreases Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

PNC Financial Services Group Inc. trimmed its position in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 29.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 3,042 shares of the company’s stock after selling 1,278 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MidCap Financial Investment were worth $41,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of MidCap Financial Investment by 4.5% during the 4th quarter. Van ECK Associates Corp now owns 2,372,505 shares of the company’s stock worth $32,005,000 after acquiring an additional 102,406 shares during the period. Foundations Investment Advisors LLC lifted its holdings in MidCap Financial Investment by 28.4% during the fourth quarter. Foundations Investment Advisors LLC now owns 400,034 shares of the company’s stock valued at $5,396,000 after purchasing an additional 88,468 shares during the last quarter. Franklin Resources Inc. boosted its position in MidCap Financial Investment by 32.4% during the third quarter. Franklin Resources Inc. now owns 384,054 shares of the company’s stock worth $5,116,000 after purchasing an additional 93,972 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of 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 worth $4,811,000 after purchasing an additional 35,341 shares in the last quarter. Finally, D.A. Davidson & CO. raised its position in shares of MidCap Financial Investment by 3.5% in the fourth quarter. D.A. Davidson & CO. now owns 298,481 shares of the company’s stock valued at $4,027,000 after purchasing an additional 10,100 shares during the period. 28.45% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reduced 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 note on Thursday, February 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.60.

MidCap Financial Investment Trading Up 0.5 %

Shares of MFIC opened at $13.13 on Thursday. MidCap Financial Investment Co. has a twelve month low of $12.26 and a twelve month high of $16.37. The stock has a market cap of $1.23 billion, a PE ratio of 8.42 and a beta of 1.49. 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’s 50-day moving average price is $13.69 and its 200-day moving average price is $13.60.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.40. The business had revenue of $82.16 million for the quarter, compared to analyst estimates of $86.28 million. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. On average, equities analysts forecast that MidCap Financial Investment Co. will post 1.73 EPS for the current fiscal year.

MidCap Financial Investment Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Investors of record on Tuesday, March 11th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 11.58%. The ex-dividend date of this dividend is Tuesday, March 11th. MidCap Financial Investment’s dividend payout ratio is 116.03%.

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.