Truist Financial Corp Buys 7,200 Shares of MidCap Financial Investment Co. (NASDAQ:MFIC)

Truist Financial Corp increased its holdings in shares of MidCap Financial Investment Co. (NASDAQ:MFIC) by 33.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,771 shares of the company’s stock after buying 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 reporting period.

Several other large investors have also recently bought and sold shares of the company. B. Riley Wealth Advisors Inc. boosted its holdings in MidCap Financial Investment by 20.9% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 13,738 shares of the company’s stock worth $188,000 after acquiring an additional 2,377 shares in the last quarter. International Assets Investment Management LLC grew its position in MidCap Financial Investment by 5.0% during the first quarter. International Assets Investment Management LLC now owns 21,951 shares of the company’s stock worth $327,000 after buying an additional 1,041 shares in the last quarter. Register Financial Advisors LLC bought a new stake in MidCap Financial Investment during the first quarter worth about $114,000. Hennion & Walsh Asset Management Inc. lifted its stake in MidCap Financial Investment by 10.7% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 220,405 shares of the company’s stock worth $3,315,000 after purchasing an additional 21,217 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of MidCap Financial Investment by 0.6% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,130 shares of the company’s stock valued at $2,739,000 after acquiring an additional 1,057 shares during the last quarter. 28.45% of the stock is currently owned by institutional investors.

MidCap Financial Investment Trading Up 0.5 %

Shares of MFIC stock opened at $13.39 on Thursday. MidCap Financial Investment Co. has a 52-week low of $12.26 and a 52-week high of $16.36. 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 firm has a market capitalization of $873.74 million, a PE ratio of 7.65 and a beta of 1.50. The stock has a fifty day simple moving average of $13.56 and a two-hundred day simple moving average of $14.61.

MidCap Financial Investment (NASDAQ:MFIC) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.02. MidCap Financial Investment had a return on equity of 11.54% and a net margin of 40.08%. The firm had revenue of $69.16 million during the quarter, compared to analyst estimates of $68.02 million. During the same quarter last year, the business posted $0.44 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Thursday, September 26th. Investors of record on Tuesday, September 10th were issued a $0.38 dividend. This is an increase from MidCap Financial Investment’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, September 10th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.35%. MidCap Financial Investment’s dividend payout ratio (DPR) is presently 86.86%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company lowered their target price on MidCap Financial Investment from $16.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. JPMorgan Chase & Co. cut 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. Keefe, Bruyette & Woods raised MidCap Financial Investment from a “market perform” rating to an “outperform” rating and set a $15.00 price objective on the stock in a research report on Monday, August 5th. Finally, 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 report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, MidCap Financial Investment presently has a consensus rating of “Moderate Buy” and a consensus target price of $15.00.

MidCap Financial Investment Profile

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.