Golden State Wealth Management LLC Acquires 91,303 Shares of Hercules Capital, Inc. (NYSE:HTGC)

Golden State Wealth Management LLC lifted its holdings in Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 78.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 206,961 shares of the financial services provider's stock after purchasing an additional 91,303 shares during the period. Golden State Wealth Management LLC owned 0.12% of Hercules Capital worth $3,976,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in HTGC. Ares Management LLC grew its position in Hercules Capital by 14.3% during the fourth quarter. Ares Management LLC now owns 226,606 shares of the financial services provider's stock worth $4,553,000 after buying an additional 28,300 shares in the last quarter. Left Brain Wealth Management LLC grew its position in Hercules Capital by 32.2% during the fourth quarter. Left Brain Wealth Management LLC now owns 275,876 shares of the financial services provider's stock worth $5,542,000 after buying an additional 67,215 shares in the last quarter. Marshall Wace LLP acquired a new stake in Hercules Capital during the fourth quarter worth about $14,871,000. Ameriprise Financial Inc. boosted its holdings in Hercules Capital by 9.7% during the fourth quarter. Ameriprise Financial Inc. now owns 325,912 shares of the financial services provider's stock valued at $6,548,000 after purchasing an additional 28,812 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new stake in Hercules Capital during the fourth quarter valued at approximately $324,000. 19.69% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company decreased their price objective on Hercules Capital from $21.00 to $19.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Keefe, Bruyette & Woods decreased their price objective on Hercules Capital from $21.50 to $20.50 and set an "outperform" rating on the stock in a report on Tuesday, April 8th. Piper Sandler decreased their price objective on Hercules Capital from $23.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, April 8th. Finally, UBS Group decreased their price objective on Hercules Capital from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hercules Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $19.92.

Insider Buying and Selling

In related news, Director Nikos Theodosopoulos acquired 5,999 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The stock was purchased at an average price of $17.49 per share, for a total transaction of $104,922.51. Following the transaction, the director now directly owns 11,960 shares of the company's stock, valued at approximately $209,180.40. This trade represents a 100.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by corporate insiders.

Hercules Capital Price Performance

Shares of HTGC traded down $0.04 on Friday, hitting $18.14. The company's stock had a trading volume of 688,454 shares, compared to its average volume of 1,114,939. The company has a market capitalization of $3.18 billion, a PE ratio of 13.64 and a beta of 0.93. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.38 and a quick ratio of 2.38. Hercules Capital, Inc. has a fifty-two week low of $15.65 and a fifty-two week high of $22.04. The company has a 50 day moving average price of $17.76 and a 200 day moving average price of $18.98.

Hercules Capital (NYSE:HTGC - Get Free Report) last announced its earnings results on Thursday, May 1st. The financial services provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). The business had revenue of $102.10 million during the quarter, compared to analyst estimates of $125.43 million. Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The firm's revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.50 earnings per share. On average, research analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Tuesday, May 13th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 8.82%. The ex-dividend date of this dividend was Tuesday, May 13th. Hercules Capital's dividend payout ratio (DPR) is presently 120.30%.

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.