Hercules Capital, Inc. $HTGC Shares Acquired by Border to Coast Pensions Partnership Ltd

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 raised its holdings 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 filing with the Securities & Exchange Commission. The institutional investor owned 375,000 shares of the financial services provider's stock after purchasing an additional 25,000 shares during the quarter. 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 institutional investors and hedge funds also recently made changes to their positions in HTGC. Northern Trust Corp boosted its stake in shares of Hercules Capital by 14.6% during the 4th quarter. Northern Trust Corp now owns 109,136 shares of the financial services provider's stock valued at $2,193,000 after buying an additional 13,930 shares during the last quarter. Bank of America Corp DE increased its position in shares of Hercules Capital by 3.6% in the 4th quarter. Bank of America Corp DE now owns 128,985 shares of the financial services provider's stock worth $2,591,000 after purchasing an additional 4,518 shares during the last quarter. Millennium Management LLC increased its position in shares of Hercules Capital by 1,834.7% in the 4th quarter. Millennium Management LLC now owns 429,125 shares of the financial services provider's stock worth $8,621,000 after purchasing an additional 406,944 shares during the last quarter. ProShare Advisors LLC increased its position in shares of Hercules Capital by 17.3% in the 4th quarter. ProShare Advisors LLC now owns 26,966 shares of the financial services provider's stock worth $542,000 after purchasing an additional 3,970 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in Hercules Capital by 3.1% in the fourth quarter. Royal Bank of Canada now owns 788,353 shares of the financial services provider's stock worth $15,839,000 after purchasing an additional 23,783 shares in the last quarter. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Piper Sandler lifted their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Citigroup reiterated an "outperform" rating on shares of Hercules Capital in a research note on Monday, August 4th. UBS Group boosted their target price on shares of Hercules Capital from $18.50 to $19.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Finally, 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. Five equities 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.com, Hercules Capital has an average rating of "Moderate Buy" and an average price target of $20.58.

Hercules Capital Price Performance

Shares of HTGC traded up $0.04 during midday trading on Tuesday, reaching $19.18. The stock had a trading volume of 483,019 shares, compared to its average volume of 1,160,630. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68. The firm's 50 day moving average price is $19.29 and its 200-day moving average price is $18.45. The company has a market capitalization of $3.48 billion, a P/E ratio of 12.71 and a beta of 0.95.

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

Hercules Capital Increases Dividend

The firm also recently announced 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 boost from Hercules Capital's previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a yield of 9.8%. The ex-dividend date of this dividend was Tuesday, August 12th. Hercules Capital's dividend payout ratio (DPR) is currently 105.96%.

About Hercules Capital

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.