PNC Financial Services Group Inc. Sells 20,676 Shares of Hercules Capital, Inc. (NYSE:HTGC)

PNC Financial Services Group Inc. trimmed its stake in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 7.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 0.16% of Hercules Capital worth $5,264,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its stake in shares of Hercules Capital by 51.2% in the fourth quarter. JPMorgan Chase & Co. now owns 443,114 shares of the financial services provider's stock valued at $8,902,000 after buying an additional 150,136 shares in the last quarter. Franklin Resources Inc. grew its position in shares of Hercules Capital by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 389,280 shares of the financial services provider's stock worth $7,821,000 after acquiring an additional 2,055 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Hercules Capital during the fourth quarter valued at $2,156,000. ExodusPoint Capital Management LP acquired a new stake in shares of Hercules Capital during the fourth quarter worth approximately $540,000. Finally, Wells Fargo & Company MN raised its holdings in Hercules Capital by 2.4% in the 4th quarter. Wells Fargo & Company MN now owns 670,674 shares of the financial services provider's stock worth $13,474,000 after acquiring an additional 15,836 shares during the period. Hedge funds and other institutional investors own 19.69% of the company's stock.

Analysts Set New Price Targets

HTGC has been the topic of several recent analyst reports. Citigroup reiterated an "outperform" rating on shares of Hercules Capital in a report on Monday, August 4th. UBS Group lifted their price objective on Hercules Capital from $18.50 to $19.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Piper Sandler increased their target price on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Wells Fargo & Company cut 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 note on Monday, April 28th. Finally, JMP Securities raised their price target on Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a report on Monday, August 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $20.58.

Hercules Capital Stock Up 0.9%

NYSE HTGC traded up $0.17 during trading hours on Friday, hitting $19.49. The company had a trading volume of 1,287,220 shares, compared to its average volume of 1,094,877. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 2.38. The firm's 50 day moving average is $18.60 and its 200 day moving average is $18.79. 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 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 announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $137.46 million during the quarter, compared to the consensus estimate of $129.47 million. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%. The business's revenue for the quarter was up 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.51 EPS. Sell-side 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 announced a quarterly dividend, which will be paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th will be paid a $0.47 dividend. This is a boost from Hercules Capital's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 12th. This represents a $1.88 annualized dividend and a dividend yield of 9.6%. Hercules Capital's payout ratio is 105.96%.

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.