BlackRock Inc. Purchases New Position in Hercules Capital, Inc. $HTGC

BlackRock Inc. purchased a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 924,105 shares of the financial services provider's stock, valued at approximately $14,573,000. BlackRock Inc. owned approximately 0.49% of Hercules Capital at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HTGC. Fox Run Management L.L.C. increased its position in Hercules Capital by 2.8% in the fourth quarter. Fox Run Management L.L.C. now owns 24,354 shares of the financial services provider's stock worth $458,000 after purchasing an additional 657 shares during the last quarter. Centaurus Financial Inc. raised its position in shares of Hercules Capital by 1.8% during the 3rd quarter. Centaurus Financial Inc. now owns 37,819 shares of the financial services provider's stock valued at $715,000 after buying an additional 675 shares in the last quarter. Mariner LLC raised its position in shares of Hercules Capital by 1.4% during the 4th quarter. Mariner LLC now owns 56,453 shares of the financial services provider's stock valued at $1,062,000 after buying an additional 764 shares in the last quarter. Baker Avenue Asset Management LP lifted its holdings in shares of Hercules Capital by 8.0% in the 4th quarter. Baker Avenue Asset Management LP now owns 11,896 shares of the financial services provider's stock valued at $224,000 after acquiring an additional 881 shares during the last quarter. Finally, Integrated Wealth Concepts LLC grew its position in Hercules Capital by 5.9% in the first quarter. Integrated Wealth Concepts LLC now owns 17,241 shares of the financial services provider's stock worth $331,000 after acquiring an additional 959 shares in the last quarter. 19.69% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HTGC. Weiss Ratings restated a "hold (c)" rating on shares of Hercules Capital in a research report on Wednesday, June 17th. UBS Group upgraded Hercules Capital from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $15.50 to $18.50 in a report on Tuesday. Finally, LADENBURG THALM/SH SH decreased their price target on Hercules Capital from $21.00 to $20.00 and set a "buy" rating on the stock in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Hercules Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.89.

Hercules Capital Trading Up 0.1%

HTGC opened at $17.72 on Friday. The stock's fifty day moving average is $16.54 and its two-hundred day moving average is $15.69. The company has a market capitalization of $3.32 billion, a P/E ratio of 8.82 and a beta of 0.81. Hercules Capital, Inc. has a 52 week low of $13.70 and a 52 week high of $19.62. 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 issued its earnings results on Thursday, July 30th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. The business had revenue of $134.41 million during the quarter, compared to analysts' expectations of $146.71 million. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.The business's revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.50 EPS. Analysts forecast that Hercules Capital, Inc. will post 1.95 earnings per share for the current year.

Hercules Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 11th were given a dividend of $0.40 per share. This is a positive change from Hercules Capital's previous quarterly dividend of $0.07. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.60 dividend on an annualized basis and a yield of 9.0%. Hercules Capital's payout ratio is 79.60%.

Hercules Capital Profile

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.

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