Wells Fargo & Company Issues Positive Forecast for MidCap Financial Investment (NASDAQ:MFIC) Stock Price

MidCap Financial Investment (NASDAQ:MFIC) had its target price boosted by Wells Fargo & Company from $14.00 to $15.00 in a research report released on Wednesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Royal Bank of Canada restated a “sector perform” rating and issued a $14.00 price target on shares of MidCap Financial Investment in a research note on Tuesday, November 19th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $14.86.

MidCap Financial Investment Stock Down 1.0 %

Shares of MidCap Financial Investment stock opened at $13.76 on Wednesday. The company has a market cap of $1.29 billion, a P/E ratio of 8.82 and a beta of 1.48. The firm has a fifty day moving average of $13.66 and a two-hundred day moving average of $13.70. The company has a debt-to-equity ratio of 1.25, a quick ratio of 8.51 and a current ratio of 8.51. MidCap Financial Investment has a one year low of $12.26 and a one year high of $16.36.

MidCap Financial Investment (NASDAQ:MFIC) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. MidCap Financial Investment had a net margin of 37.05% and a return on equity of 11.37%. The firm had revenue of $82.14 million during the quarter, compared to analysts’ expectations of $82.68 million. During the same period in the prior year, the company posted $0.43 earnings per share. On average, analysts forecast that MidCap Financial Investment will post 1.73 earnings per share for the current year.

MidCap Financial Investment Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 26th. Investors of record on Tuesday, December 10th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 11.05%. The ex-dividend date was Tuesday, December 10th. MidCap Financial Investment’s payout ratio is currently 97.44%.

Institutional Trading of MidCap Financial Investment

A number of institutional investors have recently bought and sold shares of MFIC. Van ECK Associates Corp raised 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 buying an additional 102,406 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in MidCap Financial Investment by 0.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,156,843 shares of the company’s stock worth $28,880,000 after acquiring an additional 10,669 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of MidCap Financial Investment by 139.5% in the third quarter. Advisors Asset Management Inc. now owns 444,531 shares of the company’s stock valued at $5,952,000 after purchasing an additional 258,940 shares in the last quarter. Foundations Investment Advisors LLC grew its position in shares of MidCap Financial Investment by 28.4% in 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. Finally, Franklin Resources Inc. increased its stake in shares of MidCap Financial Investment by 32.4% during the 3rd 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 in the last quarter. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

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.