Comerica Bank Reduces Stock Holdings in MidCap Financial Investment Corporation $MFIC

Comerica Bank trimmed its holdings in shares of MidCap Financial Investment Corporation (NASDAQ:MFIC) by 7.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,909 shares of the company’s stock after selling 6,262 shares during the quarter. Comerica Bank owned 0.09% of MidCap Financial Investment worth $1,066,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. purchased a new position in MidCap Financial Investment during the 1st quarter worth $2,958,000. CW Advisors LLC grew its stake in MidCap Financial Investment by 3.3% during the 1st quarter. CW Advisors LLC now owns 29,539 shares of the company’s stock worth $380,000 after buying an additional 945 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S grew its stake in MidCap Financial Investment by 63.4% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 243,570 shares of the company’s stock worth $3,132,000 after buying an additional 94,468 shares during the last quarter. Ethos Financial Group LLC grew its stake in MidCap Financial Investment by 2,074.6% during the 1st quarter. Ethos Financial Group LLC now owns 415,948 shares of the company’s stock worth $5,361,000 after buying an additional 396,820 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in MidCap Financial Investment during the 1st quarter worth $372,000. 28.45% of the stock is currently owned by hedge funds and other institutional investors.

MidCap Financial Investment Stock Down 0.4%

Shares of MFIC opened at $13.03 on Friday. MidCap Financial Investment Corporation has a 52 week low of $10.18 and a 52 week high of $14.74. The company has a quick ratio of 3.53, a current ratio of 3.53 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 12.06 and a beta of 1.05. The stock’s 50-day moving average price is $12.93 and its 200-day moving average price is $12.70.

MidCap Financial Investment (NASDAQ:MFIC) last issued its earnings results on Monday, August 11th. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%.The firm had revenue of $81.25 million for the quarter, compared to the consensus estimate of $81.70 million. On average, sell-side analysts predict that MidCap Financial Investment Corporation will post 1.73 EPS for the current year.

MidCap Financial Investment Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Tuesday, September 9th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 11.7%. MidCap Financial Investment’s dividend payout ratio is presently 140.74%.

Analyst Upgrades and Downgrades

MFIC has been the topic of several research analyst reports. Truist Financial dropped their target price on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price target on the stock. in a research note on Wednesday, July 23rd. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $13.00 target price on shares of MidCap Financial Investment in a report on Monday, August 25th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, MidCap Financial Investment has a consensus rating of “Hold” and a consensus target price of $13.30.

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.