Wells Fargo & Company Cuts MidCap Financial Investment (NASDAQ:MFIC) Price Target to $14.00

MidCap Financial Investment (NASDAQ:MFIC) had its price objective decreased by Wells Fargo & Company from $15.00 to $14.00 in a report published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Separately, Royal Bank of Canada reiterated a “sector perform” rating and set a $14.00 price objective on shares of MidCap Financial Investment in a research report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.60.

MidCap Financial Investment Trading Up 0.5 %

Shares of MFIC stock opened at $13.78 on Thursday. MidCap Financial Investment has a fifty-two week low of $12.26 and a fifty-two week high of $16.36. The stock has a market cap of $1.29 billion, a P/E ratio of 8.83 and a beta of 1.48. The business has a fifty day simple moving average of $13.83 and a 200-day simple moving average of $13.70. The company has a quick ratio of 8.51, a current ratio of 8.51 and a debt-to-equity ratio of 1.25.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. MidCap Financial Investment had a return on equity of 11.37% and a net margin of 37.05%. The business had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $86.28 million. On average, analysts forecast that MidCap Financial Investment will post 1.73 earnings per share for the current fiscal year.

MidCap Financial Investment Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Tuesday, March 11th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.03%. The ex-dividend date is Tuesday, March 11th. MidCap Financial Investment’s payout ratio is 116.03%.

Institutional Trading of MidCap Financial Investment

Hedge funds have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its stake in MidCap Financial Investment by 269.8% in the 3rd quarter. Janney Montgomery Scott LLC now owns 63,291 shares of the company’s stock worth $847,000 after buying an additional 46,176 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in MidCap Financial Investment by 273.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 141,640 shares of the company’s stock worth $1,897,000 after buying an additional 103,741 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in MidCap Financial Investment in the 3rd quarter worth about $692,000. Barclays PLC boosted its stake in MidCap Financial Investment by 190,106.2% in the 3rd quarter. Barclays PLC now owns 123,634 shares of the company’s stock worth $1,656,000 after buying an additional 123,569 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in MidCap Financial Investment by 32.4% in the 3rd quarter. Franklin Resources Inc. now owns 384,054 shares of the company’s stock worth $5,116,000 after buying an additional 93,972 shares during the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

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.