259,640 Shares in Hercules Capital, Inc. $HTGC Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 259,640 shares of Hercules Capital worth approximately $4.1 million, while institutional investors collectively owned 19.69% of the company.
• Hercules Capital reported quarterly EPS of $0.50, beating estimates by $0.02, while revenue rose 8.4% year over year to $134.41 million but fell short of expectations.
• The company increased its quarterly dividend to $0.40 per share, representing an annualized payout of $1.60 and a yield of about 9.5%; analysts maintained a “Moderate Buy” consensus with an average price target of $18.89.

Bank of America Corp DE bought a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 259,640 shares of the financial services provider's stock, valued at approximately $4,095,000. Bank of America Corp DE owned approximately 0.14% of Hercules Capital at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legal & General Group Plc acquired a new stake in shares of Hercules Capital in the second quarter valued at about $26,523,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Hercules Capital during the second quarter worth about $234,000. Burk Holdings LLC acquired a new position in shares of Hercules Capital during the 2nd quarter worth about $28,000. Elevation Point Wealth Partners LLC purchased a new position in Hercules Capital in the 2nd quarter valued at about $3,277,000. Finally, Quantbot Technologies LP purchased a new position in Hercules Capital in the 2nd quarter valued at about $1,279,000. Hedge funds and other institutional investors own 19.69% of the company's stock.

Hercules Capital Stock Down 0.5%

Shares of NYSE:HTGC opened at $16.89 on Tuesday. Hercules Capital, Inc. has a 52-week low of $13.70 and a 52-week high of $19.17. The stock has a market cap of $3.16 billion, a P/E ratio of 8.40 and a beta of 0.81. The business has a fifty day moving average of $17.02 and a two-hundred day moving average of $15.96. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 1.03.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a net margin of 67.68% and a return on equity of 16.01%. The firm had revenue of $134.41 million during the quarter, compared to analysts' expectations of $146.71 million. During the same period last year, the business earned $0.50 earnings per share. Hercules Capital's revenue was up 8.4% compared to the same quarter last year. On average, research analysts expect that Hercules Capital, Inc. will post 1.95 earnings per share for the current year.

Hercules Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.5%. This is a boost from Hercules Capital's previous quarterly dividend of $0.07. Hercules Capital's dividend payout ratio (DPR) is currently 79.60%.

Analysts Set New Price Targets

HTGC has been the subject of several research reports. UBS Group upgraded Hercules Capital from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $15.50 to $18.50 in a research report on Tuesday, September 1st. LADENBURG THALM/SH SH decreased their price objective on Hercules Capital from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 31st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hercules Capital in a research note on Monday, September 14th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $18.89.

Hercules Capital Profile

Hercules Capital, Inc NYSE: HTGC is a specialty finance company and business development company that provides financing to innovative, growth-oriented companies. Its primary focus is venture lending for businesses in the technology, life sciences, and sustainable and renewable technology sectors, including companies supported by venture capital and private equity investors.

The company offers secured term loans, equipment financing, working capital and bridge loans, and other customized debt solutions.

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