MidCap Financial Investment Corporation Announces Quarterly Dividend of $0.31 (NASDAQ:MFIC)

MidCap Financial Investment Corporation (NASDAQ:MFIC) announced a quarterly dividend on Tuesday, May 5th. Shareholders of record on Tuesday, June 9th will be given a dividend of 0.31 per share on Thursday, June 25th. This represents a c) annualized dividend and a yield of 10.4%. The ex-dividend date is Tuesday, June 9th.

MidCap Financial Investment has decreased its dividend payment by an average of 0.0%annually over the last three years. MidCap Financial Investment has a dividend payout ratio of 82.7% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect MidCap Financial Investment to earn $1.28 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 96.9%.

MidCap Financial Investment Trading Down 1.6%

MFIC stock traded down $0.20 during midday trading on Thursday, hitting $11.88. The stock had a trading volume of 489,772 shares, compared to its average volume of 985,600. The firm has a market cap of $978.18 million, a PE ratio of 17.99 and a beta of 0.63. The company has a debt-to-equity ratio of 1.53, a current ratio of 6.65 and a quick ratio of 6.65. MidCap Financial Investment has a 12-month low of $9.48 and a 12-month high of $13.51. The company’s 50-day moving average price is $11.10 and its 200 day moving average price is $11.46.

MidCap Financial Investment (NASDAQ:MFIC) last released its earnings results on Wednesday, May 6th. The company reported ($0.30) EPS for the quarter, missing the consensus estimate of $0.36 by ($0.66). The firm had revenue of ($17.79) million during the quarter, compared to analysts’ expectations of $74.62 million. MidCap Financial Investment had a return on equity of 10.43% and a net margin of 19.69%. On average, equities research analysts predict that MidCap Financial Investment will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

MFIC has been the topic of a number of research analyst reports. Weiss Ratings upgraded shares of MidCap Financial Investment from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Wells Fargo & Company decreased their price target on shares of MidCap Financial Investment from $11.00 to $9.50 and set an “equal weight” rating on the stock in a report on Monday, March 2nd. JPMorgan Chase & Co. decreased their price target on shares of MidCap Financial Investment from $11.50 to $10.00 and set a “neutral” rating on the stock in a report on Friday, March 13th. Wall Street Zen upgraded shares of MidCap Financial Investment from a “sell” rating to a “hold” rating in a report on Saturday, April 25th. Finally, Royal Bank Of Canada reduced their target price on shares of MidCap Financial Investment from $13.00 to $11.00 and set a “sector perform” rating on the stock in a report on Thursday, March 5th. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, MidCap Financial Investment currently has an average rating of “Hold” and a consensus price target of $11.54.

MidCap Financial Investment Company Profile

MidCap Financial Investment Corporation (NASDAQ: MFIC) is a business development company that provides financing solutions to middle-market companies across the United States. The firm specializes in direct lending and asset-based financing, offering a range of debt instruments designed to support working capital needs, equipment acquisitions, lease financing and corporate recapitalizations. Its focus on senior secured loans, unitranche structures and equipment financings positions it to serve clients in sectors such as manufacturing, healthcare, transportation and energy.

Through its lending platform, MidCap Financial Investment Corporation partners with privately held and sponsor-backed companies that typically generate annual revenues between $25 million and $500 million.