Hercules Capital, Inc. $HTGC Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. significantly reduced its stake in Hercules Capital by 90.5%, selling 215,680 shares and holding only 22,726 shares worth $415,000 afterward.
• Hercules Capital recently declared a quarterly dividend of $0.47 per share, increasing from the previous dividend of $0.40, resulting in an annualized yield of 10.8%.
• The company reported better-than-expected quarterly earnings of $0.50 per share, surpassing analysts' estimates of $0.47, with revenues increasing by 10.0% compared to the previous year.

Atria Wealth Solutions Inc. trimmed its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 90.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,726 shares of the financial services provider's stock after selling 215,680 shares during the period. Atria Wealth Solutions Inc.'s holdings in Hercules Capital were worth $415,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HTGC. CWM LLC lifted its position in Hercules Capital by 79.6% during the second quarter. CWM LLC now owns 1,381 shares of the financial services provider's stock valued at $25,000 after buying an additional 612 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in Hercules Capital during the first quarter valued at approximately $30,000. Alpine Bank Wealth Management acquired a new position in Hercules Capital during the second quarter valued at approximately $33,000. Bessemer Group Inc. acquired a new position in Hercules Capital during the first quarter valued at approximately $38,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in Hercules Capital by 51.8% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,629 shares of the financial services provider's stock valued at $51,000 after buying an additional 897 shares in the last quarter. 19.69% of the stock is owned by institutional investors and hedge funds.

Hercules Capital Stock Up 1.2%

Shares of NYSE:HTGC opened at $17.49 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.96. The company has a fifty day simple moving average of $18.80 and a 200 day simple moving average of $18.34. The firm has a market cap of $3.18 billion, a PE ratio of 11.58 and a beta of 0.96. Hercules Capital, Inc. has a 12-month low of $15.65 and a 12-month high of $22.04.

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

Hercules Capital Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Investors of record on Tuesday, August 12th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 10.8%. This is a boost from Hercules Capital's previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 12th. Hercules Capital's payout ratio is presently 105.96%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Piper Sandler reduced their price target on shares of Hercules Capital from $21.00 to $20.50 and set an "overweight" rating on the stock in a research report on Thursday, October 9th. Weiss Ratings reissued a "buy (b)" rating on shares of Hercules Capital in a research report on Wednesday, October 8th. JMP Securities boosted their target price on shares of Hercules Capital from $22.00 to $24.00 and gave the stock a "market outperform" rating in a research report on Monday, August 4th. Citigroup reissued an "outperform" rating on shares of Hercules Capital in a research report on Monday, August 4th. Finally, UBS Group reduced their target price on shares of Hercules Capital from $19.00 to $18.50 and set a "neutral" rating on the stock in a research report on Tuesday, October 14th. Six research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Hercules Capital has an average rating of "Moderate Buy" and a consensus target price of $20.42.

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.

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