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

Hercules Capital, Inc. (NYSE:HTGC) has been assigned a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.8929.

A number of research analysts recently commented on the company. LADENBURG THALM/SH SH reduced their price target on Hercules Capital from $21.00 to $20.00 and set a “buy” rating for the company in a report on Friday, July 31st. Piper Sandler raised their price objective 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research report on Wednesday, June 17th. Finally, UBS Group upgraded Hercules Capital from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $15.50 to $18.50 in a research note on Tuesday.

Hedge Funds Weigh In On Hercules Capital

Several hedge funds and other institutional investors have recently made changes to their positions in HTGC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Hercules Capital in the 4th quarter valued at about $27,000. Burk Holdings LLC bought a new position in Hercules Capital during the second quarter valued at about $28,000. Cornerstone Planning Group LLC bought a new position in shares of Hercules Capital in the fourth quarter valued at approximately $29,000. Archer Investment Corp bought a new stake in Hercules Capital during the second quarter valued at about $32,000. Finally, Fifth Third Bancorp acquired a new position in shares of Hercules Capital during the first quarter worth approximately $35,000. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Trading Up 0.1%

NYSE HTGC opened at $17.69 on Monday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 8.80 and a beta of 0.81. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.37 and a current ratio of 1.37. Hercules Capital has a one year low of $13.70 and a one year high of $19.62. The company’s 50 day moving average price is $16.49 and its 200 day moving average price is $15.67.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.02. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.The firm had revenue of $134.41 million during the quarter, compared to the consensus estimate of $146.71 million. During the same period in the prior year, the firm earned $0.50 EPS. The firm’s quarterly revenue was up 8.4% compared to the same quarter last year. On average, sell-side analysts predict that Hercules Capital will post 1.95 EPS for the current year.

Hercules Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 9.0%. This is a boost from Hercules Capital’s previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, August 11th. Hercules Capital’s dividend payout ratio is currently 79.60%.

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.