Hercules Capital, Inc. (NYSE:HTGC) Declares Quarterly Dividend of $0.07

Hercules Capital, Inc. (NYSE:HTGC) declared a quarterly dividend on Monday, October 26th. Stockholders of record on Tuesday, November 10th will be given a dividend of $0.07 per share by the financial services provider on Tuesday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 82.5% decrease from Hercules Capital’s previous quarterly dividend of $0.40.

Hercules Capital has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Hercules Capital has a payout ratio of 80.4% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Hercules Capital to earn $1.99 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 80.4%.

Hercules Capital Stock Up 1.1%

Shares of NYSE:HTGC opened at $16.59 on Wednesday. The company has a 50 day moving average of $17.02 and a 200 day moving average of $16.21. Hercules Capital has a 12 month low of $13.70 and a 12 month high of $19.13.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The firm had revenue of $134.41 million for the quarter, compared to the consensus estimate of $146.71 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue was up 8.4% on a year-over-year basis. On average, research analysts expect that Hercules Capital will post 1.95 earnings per share for the current fiscal year.

Institutional Trading of Hercules Capital

Several institutional investors and hedge funds have recently made changes to their positions in the stock. KFG Wealth Management LLC lifted its holdings in shares of Hercules Capital by 4.5% during the 3rd quarter. KFG Wealth Management LLC now owns 14,981 shares of the financial services provider’s stock worth $252,000 after acquiring an additional 646 shares during the last quarter. Adirondack Trust Co. raised its position in Hercules Capital by 2.8% during the third quarter. Adirondack Trust Co. now owns 24,674 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 674 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Hercules Capital by 2.8% during the third quarter. Oppenheimer & Co. Inc. now owns 29,898 shares of the financial services provider’s stock valued at $503,000 after purchasing an additional 823 shares in the last quarter. Wedbush Securities Inc. raised its position in Hercules Capital by 6.7% during the third quarter. Wedbush Securities Inc. now owns 13,580 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 848 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Hercules Capital by 17.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 7,090 shares of the financial services provider’s stock worth $105,000 after purchasing an additional 1,035 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 business development company and specialty finance firm that provides debt financing to innovative, growth-oriented companies. The company focuses primarily on venture capital-backed businesses in the technology, life sciences, and sustainable and specialty technology sectors.

Hercules Capital offers secured loans and other forms of growth capital designed to support companies through various stages of development, including expansion, acquisitions, recapitalizations, and initial public offerings.