Advisors Capital Management LLC Acquires Shares of 919,542 Hercules Capital, Inc. $HTGC

Advisors Capital Management LLC bought a new position in Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 919,542 shares of the financial services provider's stock, valued at approximately $14,501,000. Advisors Capital Management LLC owned about 0.49% of Hercules Capital as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of HTGC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Hercules Capital in the fourth quarter valued at about $27,000. Cornerstone Planning Group LLC purchased a new stake in shares of Hercules Capital during the 4th quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Hercules Capital by 113.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the financial services provider's stock worth $35,000 after purchasing an additional 1,000 shares during the last quarter. Summit Securities Group LLC raised its holdings in shares of Hercules Capital by 233.3% in the 4th quarter. Summit Securities Group LLC now owns 2,000 shares of the financial services provider's stock worth $38,000 after purchasing an additional 1,400 shares during the period. Finally, Fifth Third Bancorp purchased a new position in Hercules Capital in the first quarter valued at approximately $35,000. 19.69% of the stock is owned by institutional investors.

Hercules Capital Stock Performance

Hercules Capital stock opened at $17.06 on Friday. Hercules Capital, Inc. has a 1-year low of $13.70 and a 1-year high of $19.62. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $3.19 billion, a PE ratio of 8.49 and a beta of 0.79. The firm's 50 day simple moving average is $16.10 and its 200 day simple moving average is $15.64.

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

Hercules Capital Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date was Tuesday, August 11th. This is a positive change from Hercules Capital's previous quarterly dividend of $0.07. Hercules Capital's dividend payout ratio is presently 79.60%.

Analysts Set New Price Targets

Several research firms have recently weighed in on HTGC. Piper Sandler increased their price target on Hercules Capital from $16.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. UBS Group boosted their price objective on Hercules Capital from $15.00 to $15.50 and gave the company a "neutral" rating in a research note on Monday, May 18th. LADENBURG THALM/SH SH dropped their price objective on shares of 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 reiterated a "hold (c)" rating on shares of Hercules Capital in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.46.

About Hercules Capital

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source