Brokerages Set Hercules Capital, Inc. (NYSE:HTGC) Price Target at $20.32

Shares of Hercules Capital, Inc. (NYSE:HTGC) have been assigned an average recommendation of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $20.3214.

A number of brokerages have issued reports on HTGC. Piper Sandler decreased their price target on Hercules Capital from $21.00 to $20.50 and set an “overweight” rating for the company in a report on Thursday, October 9th. UBS Group decreased their target price on shares of Hercules Capital from $19.00 to $18.50 and set a “neutral” rating for the company in a research note on Tuesday, October 14th. Lucid Cap Mkts raised shares of Hercules Capital to a “strong-buy” rating in a report on Monday, December 15th. Capital One Financial set a $19.75 price objective on shares of Hercules Capital in a report on Monday, December 15th. Finally, Wall Street Zen lowered shares of Hercules Capital from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th.

Insiders Place Their Bets

In related news, Director Gayle A. Crowell acquired 6,000 shares of the firm’s stock in a transaction on Monday, November 3rd. The shares were acquired at an average cost of $17.77 per share, with a total value of $106,620.00. Following the completion of the acquisition, the director directly owned 78,727 shares in the company, valued at approximately $1,398,978.79. This trade represents a 8.25% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Hercules Capital

A number of large investors have recently modified their holdings of the business. Triumph Capital Management purchased a new position in shares of Hercules Capital in the third quarter worth about $179,000. Allworth Financial LP raised its holdings in Hercules Capital by 11.4% in the 3rd quarter. Allworth Financial LP now owns 6,652 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 680 shares during the last quarter. Investment Research Partners LLC purchased a new position in Hercules Capital in the 3rd quarter worth approximately $394,000. CIBC Bancorp USA Inc. acquired a new position in shares of Hercules Capital during the 3rd quarter worth approximately $2,104,000. Finally, Centaurus Financial Inc. grew its position in shares of Hercules Capital by 1.8% in the third quarter. Centaurus Financial Inc. now owns 37,819 shares of the financial services provider’s stock valued at $715,000 after purchasing an additional 675 shares in the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Price Performance

NYSE:HTGC opened at $18.68 on Tuesday. Hercules Capital has a one year low of $15.65 and a one year high of $22.04. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.65 and a current ratio of 1.65. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 10.86 and a beta of 0.85. The firm’s fifty day moving average is $18.07 and its two-hundred day moving average is $18.54.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Thursday, October 30th. The financial services provider reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Hercules Capital had a return on equity of 16.13% and a net margin of 60.05%.The business had revenue of $138.09 million during the quarter, compared to analyst estimates of $136.95 million. During the same quarter last year, the business posted $0.51 EPS. Research analysts expect that Hercules Capital will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 19th. Stockholders of record on Wednesday, November 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.6%. The ex-dividend date of this dividend was Wednesday, November 12th. Hercules Capital’s dividend payout ratio is presently 93.02%.

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.