Hercules Capital (NYSE:HTGC) Upgraded to Outperform at Wells Fargo & Co

Wells Fargo & Co upgraded shares of Hercules Capital (NYSE:HTGC) from a market perform rating to an outperform rating in a research report released on Monday morning, Benzinga’s Daily Ratings Newsletter reports.

Other analysts have also recently issued research reports about the company. JMP Securities set a $15.00 price target on Hercules Capital and gave the stock a buy rating in a research report on Friday, November 1st. TheStreet raised Hercules Capital from a c+ rating to a b rating in a research report on Monday, September 16th. Finally, ValuEngine cut Hercules Capital from a hold rating to a sell rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. Hercules Capital presently has a consensus rating of Hold and a consensus price target of $13.61.

HTGC traded up $0.05 on Monday, reaching $13.90. 566,534 shares of the stock were exchanged, compared to its average volume of 610,928. The company’s 50-day moving average price is $13.53 and its 200 day moving average price is $13.15. Hercules Capital has a fifty-two week low of $10.57 and a fifty-two week high of $14.53. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.49 and a quick ratio of 1.49. The firm has a market capitalization of $1.51 billion, a PE ratio of 11.68 and a beta of 0.86.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.37 EPS for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.03. Hercules Capital had a return on equity of 12.94% and a net margin of 44.00%. The company had revenue of $69.24 million during the quarter, compared to analysts’ expectations of $68.08 million. During the same quarter in the previous year, the firm posted $0.31 EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts forecast that Hercules Capital will post 1.4 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Monday, November 11th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.86%. Hercules Capital’s payout ratio is currently 107.56%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HTGC. Centaurus Financial Inc. increased its stake in shares of Hercules Capital by 31.3% in the 1st quarter. Centaurus Financial Inc. now owns 10,094 shares of the financial services provider’s stock valued at $797,000 after purchasing an additional 2,408 shares in the last quarter. Wiley BROS. Aintree Capital LLC increased its stake in shares of Hercules Capital by 26.1% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 19,350 shares of the financial services provider’s stock valued at $248,000 after purchasing an additional 4,000 shares in the last quarter. West Oak Capital LLC purchased a new position in shares of Hercules Capital in the 2nd quarter valued at about $38,000. Sound Income Strategies LLC increased its stake in shares of Hercules Capital by 33.5% in the 2nd quarter. Sound Income Strategies LLC now owns 1,673,486 shares of the financial services provider’s stock valued at $21,454,000 after purchasing an additional 419,987 shares in the last quarter. Finally, A. D. Beadell Investment Counsel Inc. increased its stake in shares of Hercules Capital by 18.3% in the 2nd quarter. A. D. Beadell Investment Counsel Inc. now owns 205,165 shares of the financial services provider’s stock valued at $2,630,000 after purchasing an additional 31,775 shares in the last quarter. Institutional investors and hedge funds own 33.82% of the company’s stock.

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.

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