FJ Capital Management LLC Buys 38,861 Shares of Hercules Capital, Inc. $HTGC

Key Points

• FJ Capital Management LLC increased its holdings in Hercules Capital, Inc. by 70.7%, now owning approximately 93,829 shares worth $1.8 million, following a purchase of 38,861 shares.
• Hercules Capital recently reported a quarterly EPS of $0.50, surpassing analysts' expectations, along with a 10% year-over-year revenue increase to $137.46 million.
• The firm announced a dividend increase to $0.47 per share, reflecting an annualized yield of 9.6%, above its previous quarterly dividend of $0.40.

FJ Capital Management LLC boosted its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 70.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,829 shares of the financial services provider's stock after buying an additional 38,861 shares during the period. FJ Capital Management LLC owned approximately 0.05% of Hercules Capital worth $1,802,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HTGC. Cubist Systematic Strategies LLC raised its holdings in shares of Hercules Capital by 170.3% in the 1st quarter. Cubist Systematic Strategies LLC now owns 336,988 shares of the financial services provider's stock worth $6,474,000 after acquiring an additional 212,325 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of Hercules Capital by 2.0% in the first quarter. Royal Bank of Canada now owns 804,077 shares of the financial services provider's stock valued at $15,446,000 after purchasing an additional 15,724 shares in the last quarter. Trexquant Investment LP boosted its position in shares of Hercules Capital by 15.3% during the first quarter. Trexquant Investment LP now owns 123,706 shares of the financial services provider's stock valued at $2,376,000 after buying an additional 16,374 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in Hercules Capital during the first quarter worth $362,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in Hercules Capital during the first quarter worth $1,089,000. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HTGC. Citigroup restated an "outperform" rating on shares of Hercules Capital in a research note on Monday, August 4th. UBS Group boosted their price target 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. Piper Sandler boosted their price target on shares of Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, JMP Securities boosted their price target on shares of Hercules Capital from $22.00 to $24.00 and gave the stock a "market outperform" rating in a report on Monday, August 4th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Hercules Capital has a consensus rating of "Moderate Buy" and an average target price of $20.58.

Hercules Capital Stock Performance

Shares of NYSE HTGC traded up $0.06 during mid-day trading on Thursday, reaching $19.36. 541,559 shares of the company's stock were exchanged, compared to its average volume of 1,181,797. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The firm has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $18.60. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 12.82 and a beta of 0.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68.

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

Hercules Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were given 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 dividend yield of 9.7%. The ex-dividend date was Tuesday, August 12th. Hercules Capital's dividend payout ratio (DPR) is currently 105.96%.

Hercules Capital Company 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.