Lazard Asset Management LLC Buys Shares of 124,353 Hercules Capital, Inc. $HTGC

Key Points

• Lazard Asset Management initiated a stake of 124,353 Hercules Capital shares worth approximately $1.84 million, while institutional investors collectively owned 19.69% of HTGC.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $18.46, despite several firms assigning neutral ratings.
• Hercules Capital reported quarterly EPS of $0.50, exceeding estimates, and increased its quarterly dividend to $0.40 per share, implying a 9.5% annualized yield.

Lazard Asset Management LLC purchased a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 124,353 shares of the financial services provider's stock, valued at approximately $1,837,000. Lazard Asset Management LLC owned about 0.07% of Hercules Capital at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in HTGC. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Hercules Capital in the 4th quarter valued at approximately $27,000. Cornerstone Planning Group LLC acquired a new position in Hercules Capital during the fourth quarter worth $29,000. Fifth Third Bancorp purchased a new position in shares of Hercules Capital during the first quarter worth $35,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hercules Capital by 113.1% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,884 shares of the financial services provider's stock worth $35,000 after buying an additional 1,000 shares during the period. Finally, Summit Securities Group LLC grew its stake in shares of Hercules Capital by 233.3% in the fourth quarter. Summit Securities Group LLC now owns 2,000 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,400 shares in the last quarter. 19.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on HTGC shares. UBS Group increased their target price on Hercules Capital from $15.00 to $15.50 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Hercules Capital in a research report on Wednesday, June 17th. Piper Sandler boosted their price target on shares of Hercules Capital from $16.50 to $17.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 6th. Citizens Jmp reduced their price target on shares of Hercules Capital from $24.00 to $22.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 22nd. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Hercules Capital from $19.00 to $18.00 and set an "outperform" rating for the company in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $18.46.

Hercules Capital Stock Up 2.5%

HTGC stock opened at $16.84 on Tuesday. The company's 50 day moving average price is $15.74 and its 200 day moving average price is $15.81. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 8.38 and a beta of 0.79. Hercules Capital, Inc. has a fifty-two week low of $13.70 and a fifty-two week high of $19.67. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.89 and a current ratio of 1.89.

Hercules Capital (NYSE:HTGC - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a net margin of 67.68% and a return on equity of 16.13%. The company had revenue of $134.41 million during the quarter, compared to analysts' expectations of $146.71 million. During the same quarter in the previous year, the business posted $0.50 EPS. The firm's revenue was up 8.4% on a year-over-year basis. On average, equities research analysts anticipate that Hercules Capital, Inc. will post 1.93 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 18th. Shareholders of record on Tuesday, August 11th will be paid a $0.40 dividend. This is a boost from Hercules Capital's previous quarterly dividend of $0.07. This represents a $1.60 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date is Tuesday, August 11th. Hercules Capital's payout ratio is 79.60%.

About Hercules Capital

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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