Taylor Frigon Capital Management LLC Purchases 36,871 Shares of Hercules Capital, Inc. $HTGC

Key Points

• Taylor Frigon Capital Management LLC increased its stake in Hercules Capital by 32.2%, acquiring 36,871 additional shares, bringing its total holdings to 151,535 shares.
• Analysts have rated Hercules Capital with an average rating of "Moderate Buy", with target prices ranging from $19.00 to $24.00.
• Hercules Capital recently raised its quarterly dividend from $0.40 to $0.47 per share, reflecting a 9.8% dividend yield.

Taylor Frigon Capital Management LLC increased its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 32.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 151,535 shares of the financial services provider's stock after acquiring an additional 36,871 shares during the period. Hercules Capital comprises about 1.5% of Taylor Frigon Capital Management LLC's portfolio, making the stock its 16th biggest position. Taylor Frigon Capital Management LLC owned about 0.09% of Hercules Capital worth $2,770,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Dakota Wealth Management grew its holdings in shares of Hercules Capital by 1.6% during the second quarter. Dakota Wealth Management now owns 37,985 shares of the financial services provider's stock worth $694,000 after purchasing an additional 600 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Hercules Capital by 2.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,832 shares of the financial services provider's stock worth $631,000 after buying an additional 628 shares during the period. Graypoint LLC grew its holdings in Hercules Capital by 0.4% during the 1st quarter. Graypoint LLC now owns 165,597 shares of the financial services provider's stock worth $3,181,000 after acquiring an additional 694 shares during the last quarter. Mackenzie Financial Corp increased its position in Hercules Capital by 2.5% in the 4th quarter. Mackenzie Financial Corp now owns 33,289 shares of the financial services provider's stock valued at $669,000 after acquiring an additional 810 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in shares of 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 acquiring an additional 897 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Hercules Capital from $18.50 to $19.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. Citigroup reiterated an "outperform" rating on shares of Hercules Capital in a research report on Monday, August 4th. Piper Sandler raised their price objective on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, JMP Securities upped their target price on Hercules Capital from $22.00 to $24.00 and gave the company a "market outperform" rating in a report on Monday, August 4th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.58.

Hercules Capital Stock Up 0.1%

Shares of Hercules Capital stock opened at $19.12 on Monday. The stock's 50-day moving average is $19.27 and its 200 day moving average is $18.47. Hercules Capital, Inc. has a one year low of $15.65 and a one year high of $22.04. The firm has a market cap of $3.47 billion, a price-to-earnings ratio of 12.66 and a beta of 0.95. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.68 and a quick ratio of 1.68.

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, beating the consensus estimate of $0.47 by $0.03. The firm had revenue of $137.46 million for the quarter, compared to analyst estimates of $129.47 million. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The company's revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 earnings per share. Equities research analysts anticipate that Hercules Capital, Inc. will post 1.96 EPS for the current year.

Hercules Capital Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Stockholders of record on Tuesday, August 12th were issued a dividend of $0.47 per share. This is an increase from Hercules Capital's previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a dividend yield of 9.8%. The ex-dividend date was Tuesday, August 12th. Hercules Capital's dividend payout ratio (DPR) is currently 105.96%.

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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