PNC Financial Services Group Inc. Decreases Position in Hercules Capital, Inc. (NYSE:HTGC)

PNC Financial Services Group Inc. reduced its position in shares of Hercules Capital, Inc. (NYSE:HTGC) by 0.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,507 shares of the financial services provider’s stock after selling 859 shares during the period. PNC Financial Services Group Inc.’s holdings in Hercules Capital were worth $5,784,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HTGC. HHM Wealth Advisors LLC purchased a new stake in shares of Hercules Capital during the second quarter worth approximately $31,000. Kathleen S. Wright Associates Inc. purchased a new stake in shares of Hercules Capital during the third quarter worth $31,000. Farther Finance Advisors LLC lifted its stake in shares of Hercules Capital by 59,650.0% in the third quarter. Farther Finance Advisors LLC now owns 2,390 shares of the financial services provider’s stock worth $47,000 after buying an additional 2,386 shares in the last quarter. Strategic Financial Concepts LLC boosted its position in Hercules Capital by 2,067.0% during the second quarter. Strategic Financial Concepts LLC now owns 353,221 shares of the financial services provider’s stock worth $72,000 after acquiring an additional 336,921 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its stake in Hercules Capital by 38.8% during the 2nd quarter. Hexagon Capital Partners LLC now owns 4,994 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 1,395 shares in the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

Insider Buying and Selling at Hercules Capital

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 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.90% of the company’s stock.

Wall Street Analyst Weigh In

HTGC has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. JMP Securities boosted their price objective 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. Finally, Wells Fargo & Company raised their target price on Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Hercules Capital presently has a consensus rating of “Moderate Buy” and an average target price of $20.40.

Hercules Capital Stock Up 1.2 %

HTGC stock opened at $18.76 on Friday. Hercules Capital, Inc. has a one year low of $15.14 and a one year high of $21.78. The firm has a market cap of $3.05 billion, a PE ratio of 9.29 and a beta of 1.39. The firm’s 50 day moving average price is $19.63 and its 200-day moving average price is $19.68. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.61 and a current ratio of 1.61.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Wednesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, meeting analysts’ consensus estimates of $0.51. The company 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 in the previous year, the business earned $0.52 earnings per share. On average, equities research analysts anticipate that Hercules Capital, Inc. will post 2.02 EPS for the current year.

Hercules Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.23%. The ex-dividend date of this dividend was Wednesday, November 13th. Hercules Capital’s dividend payout ratio (DPR) is presently 79.21%.

Hercules Capital Company Profile

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.