Wells Fargo & Company Raises MidCap Financial Investment (NASDAQ:MFIC) Price Target to $16.00

MidCap Financial Investment (NASDAQ:MFIC - Free Report) had its price target raised by Wells Fargo & Company from $15.50 to $16.00 in a report issued on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts also recently issued reports on MFIC. Royal Bank of Canada upped their price target on shares of MidCap Financial Investment from $14.00 to $15.00 and gave the stock a sector perform rating in a report on Wednesday, February 28th. Truist Financial lifted their price target on MidCap Financial Investment from $15.00 to $16.00 and gave the company a buy rating in a research note on Wednesday, February 28th. JPMorgan Chase & Co. upped their price objective on MidCap Financial Investment from $14.00 to $14.50 and gave the company a neutral rating in a research note on Wednesday, February 28th. Finally, Citigroup lifted their target price on shares of MidCap Financial Investment from $13.00 to $14.00 and gave the stock a neutral rating in a research report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $15.04.

MidCap Financial Investment Price Performance

MFIC traded up $0.02 during trading on Monday, hitting $15.59. 166,137 shares of the stock traded hands, compared to its average volume of 230,462. The company has a debt-to-equity ratio of 1.40, a current ratio of 2.76 and a quick ratio of 2.76. MidCap Financial Investment has a twelve month low of $11.34 and a twelve month high of $15.63. The company has a market cap of $1.02 billion, a price-to-earnings ratio of 8.91 and a beta of 1.45. The business has a 50 day moving average price of $14.94 and a 200 day moving average price of $14.12.

MidCap Financial Investment (NASDAQ:MFIC - Get Free Report) last released its earnings results on Monday, February 26th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.03. MidCap Financial Investment had a return on equity of 11.51% and a net margin of 41.19%. The firm had revenue of $71.95 million for the quarter, compared to analysts' expectations of $68.44 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities research analysts forecast that MidCap Financial Investment will post 1.71 earnings per share for the current fiscal year.

MidCap Financial Investment Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 27th. Shareholders of record on Tuesday, June 11th will be issued a dividend of $0.38 per share. The ex-dividend date is Monday, June 10th. This represents a $1.52 annualized dividend and a yield of 9.75%. MidCap Financial Investment's payout ratio is 86.86%.

Hedge Funds Weigh In On MidCap Financial Investment

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its stake in shares of MidCap Financial Investment by 6.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 13,963 shares of the company's stock valued at $192,000 after acquiring an additional 883 shares in the last quarter. International Assets Investment Management LLC increased its stake in MidCap Financial Investment by 5.0% in the first quarter. International Assets Investment Management LLC now owns 21,951 shares of the company's stock valued at $327,000 after purchasing an additional 1,041 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of MidCap Financial Investment by 5.3% during the first quarter. Janney Montgomery Scott LLC now owns 20,748 shares of the company's stock valued at $312,000 after purchasing an additional 1,048 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of MidCap Financial Investment by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company's stock worth $2,739,000 after purchasing an additional 1,057 shares in the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of MidCap Financial Investment by 2.4% in the 3rd quarter. HighTower Advisors LLC now owns 67,588 shares of the company's stock valued at $928,000 after buying an additional 1,556 shares during the period. Institutional investors and hedge funds own 28.45% of the company's stock.

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.