MidCap Financial Investment (NASDAQ:MFIC) PT Lowered to $14.00 at Wells Fargo & Company

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

Several other analysts have also recently issued reports on MFIC. JPMorgan Chase & Co. cut their price target on shares of MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, July 29th. Compass Point raised 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. Finally, Keefe, Bruyette & Woods raised shares of MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price target on the stock in a report on Monday, August 5th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.86.

MidCap Financial Investment Trading Down 1.3 %

MFIC opened at $13.37 on Tuesday. The stock has a market capitalization of $872.43 million, a PE ratio of 7.64 and a beta of 1.50. The firm’s fifty day moving average price is $13.55 and its 200 day moving average price is $14.51. 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 has a 12-month low of $12.26 and a 12-month high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm had revenue of $69.16 million for the quarter, compared to analysts’ expectations of $68.02 million. MidCap Financial Investment had a net margin of 40.08% and a return on equity of 11.54%. During the same period in the prior year, the company posted $0.44 earnings per share. As a group, research analysts expect that MidCap Financial Investment will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.38 per share. This is a positive change from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 10th. This represents a $1.52 annualized dividend and a yield of 11.37%. MidCap Financial Investment’s payout ratio is presently 86.86%.

Institutional Trading of MidCap Financial Investment

Institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp grew its position in shares of MidCap Financial Investment by 49.9% during the third quarter. Van ECK Associates Corp now owns 2,270,099 shares of the company’s stock worth $30,079,000 after acquiring an additional 755,436 shares during the last quarter. Janney Montgomery Scott LLC grew its position in shares of MidCap Financial Investment by 269.8% during the third quarter. Janney Montgomery Scott LLC now owns 63,291 shares of the company’s stock worth $847,000 after acquiring an additional 46,176 shares during the last quarter. Stephens Inc. AR bought a new position in shares of MidCap Financial Investment during the third quarter worth about $1,118,000. Tyche Wealth Partners LLC bought a new position in shares of MidCap Financial Investment during the third quarter worth about $284,000. Finally, Orrstown Financial Services Inc. bought a new position in shares of MidCap Financial Investment during the third quarter worth about $183,000. Institutional investors own 28.45% of the company’s stock.

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.