Brokerages Set Hercules Capital, Inc. (NYSE:HTGC) PT at $18.46

Hercules Capital, Inc. (NYSE:HTGC) has earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have covered the stock in the last year is $18.4643.

HTGC has been the topic of several research reports. LADENBURG THALM/SH SH lowered their price objective on shares of Hercules Capital from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Keefe, Bruyette & Woods decreased their target price on shares of Hercules Capital from $19.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, April 16th. Piper Sandler upped their target price on shares of Hercules Capital from $16.50 to $17.00 and gave the stock a “neutral” rating in a report on Wednesday, May 6th. Citizens Jmp lowered their target price on shares of Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating on the stock in a report on Wednesday, April 22nd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research report on Wednesday, June 17th.

Hercules Capital Trading Up 1.3%

NYSE HTGC opened at $17.26 on Thursday. The company has a quick ratio of 1.89, a current ratio of 1.37 and a debt-to-equity ratio of 1.03. Hercules Capital has a 52 week low of $13.70 and a 52 week high of $19.67. The business has a 50 day moving average price of $15.86 and a 200-day moving average price of $15.78. The company has a market cap of $3.23 billion, a price-to-earnings ratio of 8.59 and a beta of 0.79.

Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $134.41 million for the quarter, compared to analysts’ expectations of $146.71 million. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.Hercules Capital’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period last year, the business earned $0.50 EPS. As a group, equities analysts expect that Hercules Capital will post 1.95 earnings per share for the current fiscal year.

Hercules Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 9.3%. This is a boost from Hercules Capital’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend is Tuesday, August 11th. Hercules Capital’s dividend payout ratio (DPR) is currently 79.60%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in Hercules Capital in the 2nd quarter worth about $14,573,000. Sound Income Strategies LLC lifted its position in shares of Hercules Capital by 25.1% during the 1st quarter. Sound Income Strategies LLC now owns 3,382,058 shares of the financial services provider’s stock worth $49,243,000 after buying an additional 678,783 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Hercules Capital in the 3rd quarter worth approximately $11,199,000. Qube Research & Technologies Ltd grew its holdings in shares of Hercules Capital by 425.6% in the second quarter. Qube Research & Technologies Ltd now owns 580,414 shares of the financial services provider’s stock valued at $10,610,000 after acquiring an additional 469,989 shares in the last quarter. Finally, UBS Group AG increased its position in shares of Hercules Capital by 26.8% during the fourth quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider’s stock valued at $31,464,000 after acquiring an additional 353,092 shares during the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

About Hercules Capital

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high?growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.