Founders Financial Alliance LLC Acquires Shares of 14,516 Hercules Capital, Inc. (NYSE:HTGC)

Key Points

• Founders Financial Alliance LLC has acquired a new position in Hercules Capital, purchasing 14,516 shares valued at approximately $279,000.
• Hercules Capital recently announced a dividend increase to $0.47 per share, up from $0.40, with an annual yield of 9.6%.
• Wall Street analysts have varied projections for Hercules Capital, with a consensus price target of $20.58 and ratings ranging from "hold" to "buy".

Founders Financial Alliance LLC bought a new position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,516 shares of the financial services provider's stock, valued at approximately $279,000.

Other large investors also recently bought and sold shares of the company. Ares Management LLC lifted its stake in Hercules Capital by 14.3% in the fourth quarter. Ares Management LLC now owns 226,606 shares of the financial services provider's stock valued at $4,553,000 after buying an additional 28,300 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Hercules Capital in the 1st quarter valued at approximately $38,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Hercules Capital by 12.9% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 499,699 shares of the financial services provider's stock worth $9,599,000 after acquiring an additional 56,932 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Hercules Capital by 2.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,832 shares of the financial services provider's stock worth $631,000 after purchasing an additional 628 shares in the last quarter. Finally, Marshall Wace LLP purchased a new position in shares of Hercules Capital in the 4th quarter valued at about $14,871,000. Hedge funds and other institutional investors own 19.69% of the company's stock.

Hercules Capital Trading Down 0.5%

NYSE HTGC traded down $0.11 during trading hours on Thursday, hitting $19.34. 554,541 shares of the company's stock were exchanged, compared to its average volume of 1,210,757. The business's 50 day moving average is $18.70 and its 200-day moving average is $18.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.68 and a current ratio of 1.68. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04. The firm has a market capitalization of $3.51 billion, a P/E ratio of 12.81 and a beta of 0.94.

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 for the quarter, topping the consensus estimate of $0.47 by $0.03. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. The business had revenue of $137.46 million for the quarter, compared to analyst estimates of $129.47 million. During the same period in the prior year, the firm posted $0.51 EPS. The company's revenue was up 10.0% on a year-over-year basis. As a group, analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.7%. This is a boost from Hercules Capital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 12th. Hercules Capital's dividend payout ratio (DPR) is presently 105.96%.

Analyst Ratings Changes

A number of research firms recently weighed in on HTGC. Citigroup restated an "outperform" rating on shares of Hercules Capital in a report on Monday, August 4th. UBS Group upped their price target on shares of Hercules Capital from $18.50 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company dropped their price objective on shares of Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. JMP Securities upped their target price on Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a research note on Monday, August 4th. Finally, Piper Sandler raised their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hercules Capital presently has an average rating of "Moderate Buy" and a consensus price target of $20.58.

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.