Accredited Investors Inc. bought a new position in shares of Hercules Capital, Inc. (NYSE:HTGC – Get Rating) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,000 shares of the financial services provider's stock, valued at approximately $337,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of HTGC. Joseph P. Lucia & Associates LLC acquired a new position in Hercules Capital in the first quarter valued at $57,000. Prospera Financial Services Inc acquired a new position in Hercules Capital in the first quarter valued at $59,000. Chilton Capital Management LLC acquired a new position in Hercules Capital in the fourth quarter valued at $71,000. Tcwp LLC acquired a new position in Hercules Capital in the first quarter valued at $93,000. Finally, Fifth Third Bancorp boosted its stake in Hercules Capital by 96.2% in the first quarter. Fifth Third Bancorp now owns 6,222 shares of the financial services provider's stock valued at $112,000 after acquiring an additional 3,050 shares in the last quarter. Institutional investors and hedge funds own 23.79% of the company's stock.
Get Hercules Capital alerts:Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of Hercules Capital from $18.50 to $15.50 and set a "neutral" rating for the company in a report on Tuesday, June 28th. TheStreet cut shares of Hercules Capital from a "b" rating to a "c-" rating in a report on Monday, July 11th. JMP Securities reduced their target price on shares of Hercules Capital from $19.00 to $18.00 and set a "market outperform" rating for the company in a report on Monday, August 1st. Oppenheimer cut shares of Hercules Capital from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $18.00 to $15.00 in a report on Friday, July 29th. Finally, Compass Point reduced their target price on shares of Hercules Capital to $15.75 in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $17.38.
Hercules Capital Price Performance
Hercules Capital stock traded up $0.19 during mid-day trading on Friday, reaching $11.64. The company had a trading volume of 20,088 shares, compared to its average volume of 1,021,329. Hercules Capital, Inc. has a 1 year low of $11.41 and a 1 year high of $19.09. The company has a debt-to-equity ratio of 1.13, a current ratio of 3.84 and a quick ratio of 3.84. The company has a market capitalization of $1.48 billion, a P/E ratio of 104.10 and a beta of 1.37. The stock's 50-day simple moving average is $14.37 and its 200-day simple moving average is $15.23.Hercules Capital (NYSE:HTGC – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The business had revenue of $72.12 million during the quarter, compared to analyst estimates of $72.41 million. Hercules Capital had a net margin of 4.86% and a return on equity of 11.63%. The firm's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, equities analysts predict that Hercules Capital, Inc. will post 1.35 EPS for the current year.
Hercules Capital Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Stockholders of record on Tuesday, August 9th were given a $0.50 dividend. The ex-dividend date was Monday, August 8th. This is a positive change from Hercules Capital's previous quarterly dividend of $0.33. This represents a $2.00 annualized dividend and a dividend yield of 17.18%. Hercules Capital's dividend payout ratio is currently 1,272.84%.
Hercules Capital Company Profile
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Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.
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