Insider Buying: Hercules Capital (NYSE:HTGC) Director Buys 20,000 Shares of Stock

Hercules Capital, Inc. (NYSE:HTGC) Director Thomas Fallon purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were bought at an average price of $15.88 per share, with a total value of $317,600.00. Following the completion of the acquisition, the director owned 120,369 shares of the company’s stock, valued at $1,911,459.72. This trade represents a 19.93% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Hercules Capital Stock Down 1.8%

Shares of NYSE HTGC traded down $0.30 during trading hours on Thursday, hitting $15.67. The stock had a trading volume of 1,219,667 shares, compared to its average volume of 2,002,494. The firm’s 50-day moving average price is $18.14 and its two-hundred day moving average price is $18.38. Hercules Capital, Inc. has a 52 week low of $15.40 and a 52 week high of $22.03. The company has a market capitalization of $2.88 billion, a P/E ratio of 8.54 and a beta of 0.84. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.48 and a current ratio of 1.48.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings results on Thursday, February 12th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $133.25 million during the quarter, compared to analysts’ expectations of $141.57 million. Hercules Capital had a net margin of 63.80% and a return on equity of 15.97%. During the same period in the prior year, the company earned $0.49 earnings per share. Analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 4th. Stockholders of record on Wednesday, February 25th will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Hercules Capital’s dividend payout ratio is currently 87.43%.

Institutional Investors Weigh In On Hercules Capital

Several large investors have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC raised its stake in shares of Hercules Capital by 5.9% in the 1st quarter. Integrated Wealth Concepts LLC now owns 17,241 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 959 shares during the period. Empowered Funds LLC grew its holdings in shares of Hercules Capital by 85.9% during the first quarter. Empowered Funds LLC now owns 22,854 shares of the financial services provider’s stock worth $439,000 after buying an additional 10,559 shares in the last quarter. Focus Partners Wealth raised its position in Hercules Capital by 26.0% in the 1st quarter. Focus Partners Wealth now owns 15,747 shares of the financial services provider’s stock valued at $302,000 after buying an additional 3,250 shares during the last quarter. CWM LLC lifted its stake in Hercules Capital by 79.6% in the 2nd quarter. CWM LLC now owns 1,381 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 612 shares in the last quarter. Finally, Private Trust Co. NA grew its stake in shares of Hercules Capital by 576.2% during the 2nd quarter. Private Trust Co. NA now owns 3,381 shares of the financial services provider’s stock worth $62,000 after acquiring an additional 2,881 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HTGC. Wells Fargo & Company decreased their price objective on Hercules Capital from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, February 13th. Lucid Cap Mkts upgraded shares of Hercules Capital to a “strong-buy” rating in a research report on Monday, December 15th. Keefe, Bruyette & Woods reduced their price objective on Hercules Capital from $20.00 to $19.00 and set an “outperform” rating on the stock in a report on Friday, February 13th. Piper Sandler cut Hercules Capital from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $20.50 to $17.50 in a report on Friday, February 13th. Finally, Capital One Financial set a $19.75 price objective on Hercules Capital in a report on Monday, December 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.29.

Hercules Capital Company Profile

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.