PNC Financial Services Group Inc. Has $182,000 Holdings in MidCap Financial Investment Corporation $MFIC

PNC Financial Services Group Inc. raised its holdings in MidCap Financial Investment Corporation (NASDAQ:MFIC) by 364.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,142 shares of the company’s stock after buying an additional 11,100 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MidCap Financial Investment were worth $182,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Castlekeep Investment Advisors LLC acquired a new position in MidCap Financial Investment in the fourth quarter valued at approximately $16,771,000. LPL Financial LLC increased its holdings in shares of MidCap Financial Investment by 32.7% during the first quarter. LPL Financial LLC now owns 562,137 shares of the company’s stock valued at $7,229,000 after acquiring an additional 138,454 shares in the last quarter. Ares Management LLC increased its holdings in shares of MidCap Financial Investment by 55.5% during the fourth quarter. Ares Management LLC now owns 482,032 shares of the company’s stock valued at $6,503,000 after acquiring an additional 172,032 shares in the last quarter. Foundations Investment Advisors LLC increased its holdings in shares of MidCap Financial Investment by 6.8% during the first quarter. Foundations Investment Advisors LLC now owns 427,380 shares of the company’s stock valued at $5,496,000 after acquiring an additional 27,346 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of MidCap Financial Investment by 23.4% during the fourth quarter. Ameriprise Financial Inc. now owns 320,415 shares of the company’s stock valued at $4,322,000 after acquiring an additional 60,759 shares in the last quarter. 28.45% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MFIC has been the subject of several recent research reports. Keefe, Bruyette & Woods downgraded MidCap Financial Investment from an “outperform” rating to a “market perform” rating and set a $14.00 price objective for the company. in a report on Wednesday, July 23rd. Truist Financial decreased their price objective on MidCap Financial Investment from $16.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Wells Fargo & Company decreased their price target on MidCap Financial Investment from $14.00 to $13.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, JPMorgan Chase & Co. decreased their price target on MidCap Financial Investment from $13.50 to $11.50 and set a “neutral” rating for the company in a report on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $13.50.

MidCap Financial Investment Stock Down 1.2%

Shares of NASDAQ:MFIC opened at $12.87 on Monday. The company has a market capitalization of $1.20 billion, a PE ratio of 11.92 and a beta of 0.99. The company has a debt-to-equity ratio of 1.49, a current ratio of 3.53 and a quick ratio of 3.53. The business has a fifty day moving average price of $12.73 and a two-hundred day moving average price of $12.80. MidCap Financial Investment Corporation has a 1 year low of $10.18 and a 1 year high of $14.74.

MidCap Financial Investment (NASDAQ:MFIC) last announced its quarterly earnings data on Monday, August 11th. The company reported $0.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.02. The firm had revenue of $81.25 million during the quarter, compared to the consensus estimate of $81.70 million. MidCap Financial Investment had a return on equity of 10.44% and a net margin of 30.60%. Analysts forecast that MidCap Financial Investment Corporation will post 1.73 earnings per share for the current year.

MidCap Financial Investment Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Tuesday, September 9th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 11.8%. The ex-dividend date is Tuesday, September 9th. MidCap Financial Investment’s dividend payout ratio is 140.74%.

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.