Hercules Capital, Inc. (HTGC) to Issue Dividend of $0.31 on November 20th
Hercules Capital, Inc. (NYSE:HTGC) announced a dividend on Friday, November 3rd, Fidelity reports. Stockholders of record on Monday, November 13th will be given a dividend of 0.31 per share by the financial services provider on Monday, November 20th. The ex-dividend date is Friday, November 10th.
Hercules Capital has raised its dividend by an average of 3.8% per year over the last three years. Hercules Capital has a payout ratio of 106.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Hercules Capital to earn $1.28 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 96.9%.
Shares of Hercules Capital (NYSE:HTGC) opened at $13.40 on Friday. Hercules Capital has a 12-month low of $11.64 and a 12-month high of $15.68. The company has a debt-to-equity ratio of 0.92, a quick ratio of 8.47 and a current ratio of 8.47. The company has a market capitalization of $1,110.39, a PE ratio of 10.23, a PEG ratio of 2.28 and a beta of 0.84.
Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, November 2nd. The financial services provider reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. Hercules Capital had a return on equity of 13.06% and a net margin of 39.73%. The firm had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $46.22 million. During the same period last year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. analysts predict that Hercules Capital will post 1.16 earnings per share for the current fiscal year.
A number of brokerages recently weighed in on HTGC. BidaskClub lowered shares of Hercules Capital from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Hercules Capital in a research note on Friday, July 14th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $16.00 price target on shares of Hercules Capital in a research note on Sunday, August 6th. Compass Point raised shares of Hercules Capital from a “neutral” rating to a “buy” rating and set a $13.00 price target on the stock in a research note on Friday, September 8th. Finally, FBR & Co began coverage on shares of Hercules Capital in a research note on Monday, October 2nd. They issued a “buy” rating and a $14.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have issued a buy rating to the stock. Hercules Capital has a consensus rating of “Hold” and an average target price of $14.34.
An institutional investor recently raised its position in Hercules Capital stock. The Manufacturers Life Insurance Company grew its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 29.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,858 shares of the financial services provider’s stock after purchasing an additional 2,034 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Hercules Capital were worth $117,000 as of its most recent SEC filing. 42.74% of the stock is owned by institutional investors.
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Hercules Capital Company Profile
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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