Kestra Private Wealth Services LLC Decreases Stake in Hercules Capital, Inc. $HTGC

Key Points

• Kestra Private Wealth Services LLC sharply reduced its position in Hercules Capital, cutting its stake by 86.7% in the first quarter and holding 13,034 shares worth about $193,000 after the sale.
• Hercules Capital reported better-than-expected quarterly EPS of $0.48 versus the $0.47 consensus, though revenue came in below expectations at $134.94 million.
• The company also paid a quarterly dividend of $0.07 per share, equal to an annualized yield of 1.7%, while analysts currently rate the stock a “Moderate Buy” with a consensus price target of $18.21.

Kestra Private Wealth Services LLC cut its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 86.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,034 shares of the financial services provider's stock after selling 84,701 shares during the period. Kestra Private Wealth Services LLC's holdings in Hercules Capital were worth $193,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Tectonic Advisors LLC boosted its stake in shares of Hercules Capital by 10.2% during the 4th quarter. Tectonic Advisors LLC now owns 759,746 shares of the financial services provider's stock valued at $14,298,000 after buying an additional 70,235 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Hercules Capital by 123.6% in the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 239,614 shares of the financial services provider's stock worth $4,510,000 after buying an additional 132,466 shares during the last quarter. Triad Investment Management acquired a new stake in Hercules Capital in the fourth quarter valued at $1,958,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in Hercules Capital by 15.1% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,018,759 shares of the financial services provider's stock valued at $19,173,000 after acquiring an additional 133,813 shares in the last quarter. Finally, UBS Group AG boosted its stake in Hercules Capital by 26.8% during the 4th quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider's stock valued at $31,464,000 after acquiring an additional 353,092 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company's stock.

Hercules Capital Stock Performance

Shares of NYSE:HTGC traded up $0.06 during trading on Tuesday, reaching $16.11. 72,300 shares of the company's stock traded hands, compared to its average volume of 2,155,668. The stock has a market capitalization of $3.01 billion, a P/E ratio of 9.11 and a beta of 0.79. Hercules Capital, Inc. has a 12 month low of $13.70 and a 12 month high of $19.67. The company has a 50 day moving average of $15.63 and a 200-day moving average of $16.17. The company has a debt-to-equity ratio of 1.14, a current ratio of 1.89 and a quick ratio of 1.89.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its earnings results on Tuesday, May 5th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.47 by $0.01. The firm had revenue of $134.94 million for the quarter, compared to analysts' expectations of $141.39 million. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. Hercules Capital's revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the company posted $0.45 earnings per share. On average, equities analysts expect that Hercules Capital, Inc. will post 1.93 EPS for the current year.

Hercules Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, May 14th. Hercules Capital's dividend payout ratio is presently 90.40%.

Wall Street Analysts Forecast Growth

HTGC has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c)" rating on shares of Hercules Capital in a report on Wednesday, June 17th. Keefe, Bruyette & Woods reduced their price target on shares of Hercules Capital from $19.00 to $18.00 and set an "outperform" rating on the stock in a research report on Thursday, April 16th. Piper Sandler boosted their price objective on Hercules Capital from $16.50 to $17.00 and gave the company a "neutral" rating in a report on Wednesday, May 6th. Citizens Jmp cut their price objective on Hercules Capital from $24.00 to $22.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 22nd. Finally, UBS Group increased their target price on Hercules Capital from $15.00 to $15.50 and gave the stock a "neutral" rating in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $18.21.

Hercules Capital Company Profile

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company's investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.

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