Hercules Capital, Inc. (NYSE:HTGC) Receives $20.42 Consensus PT from Brokerages

Shares of Hercules Capital, Inc. (NYSE:HTGC) have received an average rating of “Moderate Buy” from the eight analysts that are covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $20.4167.

A number of research analysts have commented on HTGC shares. Piper Sandler reduced their price objective on Hercules Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. JMP Securities boosted their price target on Hercules Capital from $22.00 to $24.00 and gave the stock a “market outperform” rating in a research report on Monday, August 4th. Citigroup restated an “outperform” rating on shares of Hercules Capital in a report on Monday, August 4th. UBS Group dropped their price objective on shares of Hercules Capital from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Hercules Capital in a research note on Friday, October 31st.

Insider Activity

In other Hercules Capital news, Director Gayle A. Crowell purchased 6,000 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The shares were acquired at an average price of $17.77 per share, for a total transaction of $106,620.00. Following the completion of the purchase, the director owned 78,727 shares in the company, valued at $1,398,978.79. The trade was a 8.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Hercules Capital

Large investors have recently modified their holdings of the stock. Dakota Wealth Management increased its holdings in Hercules Capital by 1.6% in the second quarter. Dakota Wealth Management now owns 37,985 shares of the financial services provider’s stock valued at $694,000 after buying an additional 600 shares during the last quarter. CWM LLC lifted its holdings in Hercules Capital by 79.6% during the 2nd quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock worth $25,000 after buying an additional 612 shares during the last quarter. Graypoint LLC grew its position in shares of Hercules Capital by 0.4% in the 1st quarter. Graypoint LLC now owns 165,597 shares of the financial services provider’s stock worth $3,181,000 after acquiring an additional 694 shares in the last quarter. Rockefeller Capital Management L.P. increased its holdings in shares of Hercules Capital by 0.5% in the 2nd quarter. Rockefeller Capital Management L.P. now owns 143,346 shares of the financial services provider’s stock valued at $2,620,000 after acquiring an additional 697 shares during the last quarter. Finally, MAS Advisors LLC raised its position in shares of Hercules Capital by 3.6% during the 2nd quarter. MAS Advisors LLC now owns 20,992 shares of the financial services provider’s stock valued at $384,000 after acquiring an additional 728 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.

Hercules Capital Price Performance

HTGC opened at $17.98 on Monday. Hercules Capital has a 52-week low of $15.65 and a 52-week high of $22.04. The company has a 50 day moving average of $18.40 and a two-hundred day moving average of $18.41. The company has a market cap of $3.27 billion, a P/E ratio of 11.90 and a beta of 0.95. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.96.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, October 30th. The financial services provider reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.01. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. The business had revenue of $138.09 million for the quarter, compared to analyst estimates of $136.95 million. During the same quarter in the previous year, the business posted $0.51 EPS. On average, analysts expect that Hercules Capital will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 19th. Shareholders of record on Wednesday, November 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend is Wednesday, November 12th. Hercules Capital’s dividend payout ratio is presently 93.02%.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.