MidCap Financial Investment Co. (NASDAQ:MFIC) Shares Bought by Truist Financial Corp

Truist Financial Corp lifted its stake in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 33.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,771 shares of the company’s stock after purchasing an additional 7,200 shares during the quarter. Truist Financial Corp’s holdings in MidCap Financial Investment were worth $436,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MFIC. SG Americas Securities LLC purchased a new position in MidCap Financial Investment in the 1st quarter valued at about $532,000. Hennion & Walsh Asset Management Inc. grew its position in shares of MidCap Financial Investment by 19.4% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 263,128 shares of the company’s stock worth $3,984,000 after buying an additional 42,723 shares in the last quarter. MQS Management LLC acquired a new stake in shares of MidCap Financial Investment during the second quarter worth approximately $575,000. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of MidCap Financial Investment by 0.6% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company’s stock worth $2,739,000 after buying an additional 1,057 shares in the last quarter. Finally, Condor Capital Management lifted its stake in MidCap Financial Investment by 16.3% during the second quarter. Condor Capital Management now owns 306,024 shares of the company’s stock worth $4,633,000 after purchasing an additional 42,939 shares during the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MFIC. Keefe, Bruyette & Woods upgraded MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 target price on the stock in a research note on Monday, August 5th. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Compass Point raised MidCap Financial Investment from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. dropped their price target on MidCap Financial Investment from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, July 29th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, MidCap Financial Investment currently has an average rating of “Moderate Buy” and an average price target of $15.00.

MidCap Financial Investment Stock Performance

Shares of NASDAQ:MFIC opened at $13.39 on Thursday. MidCap Financial Investment Co. has a twelve month low of $12.26 and a twelve month high of $16.36. The firm has a market cap of $873.74 million, a PE ratio of 7.65 and a beta of 1.50. The company has a debt-to-equity ratio of 1.51, a quick ratio of 3.02 and a current ratio of 3.02. The business has a fifty day moving average of $13.56 and a 200-day moving average of $14.61.

MidCap Financial Investment (NASDAQ:MFIC) last posted its earnings results on Wednesday, August 7th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $69.16 million during the quarter, compared to analyst estimates of $68.02 million. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. During the same period in the previous year, the company earned $0.44 EPS. On average, equities research analysts predict that MidCap Financial Investment Co. will post 1.72 EPS for the current fiscal year.

MidCap Financial Investment Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 11.35%. The ex-dividend date of this dividend was Tuesday, September 10th. This is a boost from MidCap Financial Investment’s previous quarterly dividend of $0.20. MidCap Financial Investment’s payout ratio is 86.86%.

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.