Bank of America Corp DE Lowers Stock Position in MidCap Financial Investment Co. (NASDAQ:MFIC)

Bank of America Corp DE lowered its position in MidCap Financial Investment Co. (NASDAQ:MFIC - Free Report) by 6.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 409,608 shares of the company's stock after selling 26,052 shares during the period. Bank of America Corp DE owned about 0.44% of MidCap Financial Investment worth $5,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. raised its holdings in shares of MidCap Financial Investment by 23.4% in the fourth quarter. Ameriprise Financial Inc. now owns 320,415 shares of the company's stock valued at $4,322,000 after purchasing an additional 60,759 shares during the last quarter. Almitas Capital LLC grew its position in MidCap Financial Investment by 88.2% during the fourth quarter. Almitas Capital LLC now owns 135,444 shares of the company's stock valued at $1,827,000 after buying an additional 63,491 shares during the period. Ares Management LLC grew its position in MidCap Financial Investment by 55.5% during the fourth quarter. Ares Management LLC now owns 482,032 shares of the company's stock valued at $6,503,000 after buying an additional 172,032 shares during the period. Jane Street Group LLC grew its position in MidCap Financial Investment by 64.2% during the fourth quarter. Jane Street Group LLC now owns 57,520 shares of the company's stock valued at $776,000 after buying an additional 22,487 shares during the period. Finally, Westbourne Investments Inc. bought a new position in MidCap Financial Investment during the fourth quarter valued at about $758,000. Hedge funds and other institutional investors own 28.45% of the company's stock.

MidCap Financial Investment Price Performance

NASDAQ:MFIC remained flat at $13.08 on Friday. 361,037 shares of the company's stock were exchanged, compared to its average volume of 432,435. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 8.38 and a beta of 1.00. MidCap Financial Investment Co. has a 12-month low of $10.18 and a 12-month high of $16.37. The company has a 50 day moving average of $12.15 and a two-hundred day moving average of $13.15.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $0.37 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.02). MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The firm had revenue of $78.70 million during the quarter, compared to the consensus estimate of $82.49 million. As a group, sell-side analysts predict that MidCap Financial Investment Co. will post 1.73 EPS for the current year.

MidCap Financial Investment Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be given a $0.38 dividend. The ex-dividend date is Tuesday, June 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.62%. MidCap Financial Investment's dividend payout ratio (DPR) is currently 122.58%.

Analysts Set New Price Targets

Several research firms recently weighed in on MFIC. Wells Fargo & Company reduced their price target on shares of MidCap Financial Investment from $14.00 to $13.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target on shares of MidCap Financial Investment from $15.00 to $14.50 and set an "outperform" rating for the company in a research report on Tuesday, April 8th. Truist Financial reduced their price target on shares of MidCap Financial Investment from $16.00 to $15.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. cut their target price on shares of MidCap Financial Investment from $13.50 to $11.50 and set a "neutral" rating for the company in a research report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, MidCap Financial Investment currently has an average rating of "Moderate Buy" and a consensus target price of $14.00.

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.