Hercules Capital, Inc. (NYSE:HTGC) Receives $19.83 Average Price Target from Brokerages

Hercules Capital, Inc. (NYSE:HTGC) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $19.83.

Several brokerages have recently commented on HTGC. JMP Securities lifted their target price on Hercules Capital from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Wells Fargo & Company upped their price target on shares of Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Piper Sandler lifted their target price on Hercules Capital from $22.00 to $22.50 and gave the company an “overweight” rating in a research report on Friday, August 2nd.

Insider Buying and Selling

In other news, CEO Scott Bluestein sold 100,000 shares of the firm’s stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,161,207 shares in the company, valued at $42,338,045.13. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by insiders.

Institutional Trading of Hercules Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tectonic Advisors LLC boosted its position in shares of Hercules Capital by 17.0% during the third quarter. Tectonic Advisors LLC now owns 433,032 shares of the financial services provider’s stock valued at $8,505,000 after buying an additional 62,826 shares during the period. Mackenzie Financial Corp increased its position in Hercules Capital by 77.0% during the 2nd quarter. Mackenzie Financial Corp now owns 31,632 shares of the financial services provider’s stock valued at $647,000 after buying an additional 13,765 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Hercules Capital by 170.7% in the 1st quarter. Cetera Investment Advisers now owns 126,789 shares of the financial services provider’s stock valued at $2,339,000 after purchasing an additional 79,947 shares during the last quarter. Cetera Advisors LLC lifted its stake in shares of Hercules Capital by 98.9% during the first quarter. Cetera Advisors LLC now owns 89,118 shares of the financial services provider’s stock worth $1,644,000 after buying an additional 44,315 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in Hercules Capital by 25.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 186,835 shares of the financial services provider’s stock worth $3,821,000 after acquiring an additional 38,131 shares during the period. Institutional investors own 19.69% of the company’s stock.

Hercules Capital Stock Down 0.2 %

Shares of NYSE:HTGC opened at $19.67 on Tuesday. The company’s 50-day moving average price is $19.59 and its two-hundred day moving average price is $19.69. Hercules Capital has a 12 month low of $15.14 and a 12 month high of $21.78. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.94. The firm has a market cap of $3.20 billion, a P/E ratio of 9.74 and a beta of 1.39.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The business had revenue of $125.25 million for the quarter, compared to the consensus estimate of $125.80 million. Hercules Capital had a return on equity of 17.88% and a net margin of 65.07%. During the same quarter last year, the business posted $0.52 EPS. As a group, research analysts forecast that Hercules Capital will post 2.02 EPS for the current fiscal year.

Hercules Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.76%. Hercules Capital’s dividend payout ratio (DPR) is presently 79.21%.

About Hercules Capital

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.