PNC Financial Services Group Inc. Cuts Position in Hercules Capital, Inc. (NYSE:HTGC)

PNC Financial Services Group Inc. lowered its holdings in Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 7.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 274,004 shares of the financial services provider's stock after selling 20,676 shares during the period. PNC Financial Services Group Inc. owned about 0.16% of Hercules Capital worth $5,264,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Ameriflex Group Inc. acquired a new stake in shares of Hercules Capital in the fourth quarter worth $29,000. N.E.W. Advisory Services LLC bought a new stake in shares of Hercules Capital in the 1st quarter worth approximately $30,000. Estabrook Capital Management increased its stake in Hercules Capital by 239.0% in the fourth quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 1,324 shares during the period. Bessemer Group Inc. bought a new position in shares of Hercules Capital during the first quarter valued at $38,000. Finally, Quarry LP acquired a new position in Hercules Capital in the fourth quarter worth $48,000. Institutional investors own 19.69% of the company's stock.

Hercules Capital Trading Up 0.9%

Hercules Capital stock traded up $0.17 during mid-day trading on Friday, reaching $19.49. 1,287,220 shares of the company traded hands, compared to its average volume of 1,211,236. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 2.38. Hercules Capital, Inc. has a 52-week low of $15.65 and a 52-week high of $22.04. The firm's 50 day moving average price is $18.56 and its 200 day moving average price is $18.81. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 12.91 and a beta of 0.94.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $129.47 million. During the same period last year, the business earned $0.51 EPS. Hercules Capital's revenue was up 10.0% compared to the same quarter last year. On average, analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 9.6%. The ex-dividend date is Tuesday, August 12th. This is a positive change from Hercules Capital's previous quarterly dividend of $0.40. Hercules Capital's dividend payout ratio is currently 105.96%.

Analysts Set New Price Targets

HTGC has been the topic of several analyst reports. UBS Group boosted their price target on Hercules Capital from $18.50 to $19.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 16th. Piper Sandler increased their price target on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup reiterated an "outperform" rating on shares of Hercules Capital in a research note on Monday. Wells Fargo & Company decreased their target price on shares of Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, JMP Securities increased their price target on Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a research report on Monday. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.58.

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.