Border to Coast Pensions Partnership Ltd Has $6.86 Million Holdings in Hercules Capital, Inc. $HTGC

Key Points

• Border to Coast Pensions Partnership Ltd increased its holdings in Hercules Capital by 7.1%, now owning 375,000 shares worth approximately $6.86 million.
• Hercules Capital reported a quarterly earnings per share of $0.50, surpassing expectations, and increased its dividend from $0.40 to $0.47 per share.
• Wall Street analysts are optimistic about Hercules Capital, with an average target price of $20.58 and several analysts issuing "Buy" ratings.

Border to Coast Pensions Partnership Ltd boosted its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 7.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,000 shares of the financial services provider's stock after acquiring an additional 25,000 shares during the period. Border to Coast Pensions Partnership Ltd owned 0.21% of Hercules Capital worth $6,855,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in shares of Hercules Capital in the first quarter worth $38,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Hercules Capital by 12.9% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 499,699 shares of the financial services provider's stock worth $9,599,000 after purchasing an additional 56,932 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Hercules Capital by 2.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 32,832 shares of the financial services provider's stock valued at $631,000 after buying an additional 628 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Hercules Capital by 26.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,405 shares of the financial services provider's stock valued at $432,000 after buying an additional 4,688 shares during the period. Finally, Oppenheimer & Co. Inc. increased its position in shares of Hercules Capital by 27.4% during the first quarter. Oppenheimer & Co. Inc. now owns 20,218 shares of the financial services provider's stock valued at $388,000 after purchasing an additional 4,352 shares during the period. 19.69% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HTGC has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. JMP Securities lifted their price target on shares of Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a report on Monday, August 4th. Citigroup reaffirmed an "outperform" rating on shares of Hercules Capital in a research note on Monday, August 4th. Finally, UBS Group raised their price objective on shares of Hercules Capital from $18.50 to $19.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.58.

Hercules Capital Stock Performance

Shares of HTGC opened at $19.52 on Friday. Hercules Capital, Inc. has a 52-week low of $15.65 and a 52-week high of $22.04. The stock's 50-day simple moving average is $19.28 and its 200 day simple moving average is $18.45. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 12.93 and a beta of 0.95.

Hercules Capital (NYSE:HTGC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The firm had revenue of $137.46 million for the quarter, compared to analysts' expectations of $129.47 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company's revenue was up 10.0% on a year-over-year basis. Research analysts forecast that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were paid a dividend of $0.47 per share. This is a positive change from Hercules Capital's previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Tuesday, August 12th. Hercules Capital's dividend payout ratio is 105.96%.

Hercules Capital 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.

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