Hercules Capital’s (HTGC) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities restated their market outperform rating on shares of Hercules Capital (NYSE:HTGC) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $22.00 price objective on the financial services provider’s stock.

A number of other research firms also recently weighed in on HTGC. Wells Fargo & Company raised their price target on Hercules Capital from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Keefe, Bruyette & Woods raised Hercules Capital from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $19.50 to $21.50 in a report on Thursday, December 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.90.

Hercules Capital Stock Down 0.5 %

Shares of NYSE HTGC opened at $19.91 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.94. The business has a 50-day moving average of $19.39 and a 200-day moving average of $19.65. The firm has a market capitalization of $3.23 billion, a price-to-earnings ratio of 9.86 and a beta of 1.35. Hercules Capital has a 12 month low of $16.72 and a 12 month high of $21.78.

Hercules Capital (NYSE:HTGC) last announced its earnings results on Wednesday, October 30th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The business had revenue of $125.25 million during the quarter, compared to analyst estimates of $125.80 million. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. During the same period in the previous year, the business posted $0.52 earnings per share. Sell-side analysts expect that Hercules Capital will post 2.01 earnings per share for the current fiscal year.

Hercules Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 13th were given a dividend of $0.48 per share. The ex-dividend date was Wednesday, November 13th. This represents a $1.92 annualized dividend and a yield of 9.64%. Hercules Capital’s payout ratio is 79.21%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Tectonic Advisors LLC grew its position in Hercules Capital by 17.0% during the 3rd quarter. Tectonic Advisors LLC now owns 433,032 shares of the financial services provider’s stock worth $8,505,000 after acquiring an additional 62,826 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of Hercules Capital by 77.0% in the second quarter. Mackenzie Financial Corp now owns 31,632 shares of the financial services provider’s stock worth $647,000 after purchasing an additional 13,765 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Hercules Capital by 511.2% in the third quarter. BNP Paribas Financial Markets now owns 53,068 shares of the financial services provider’s stock worth $1,042,000 after buying an additional 44,386 shares during the period. Advisors Asset Management Inc. raised its holdings in Hercules Capital by 9.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 406,985 shares of the financial services provider’s stock valued at $7,993,000 after buying an additional 34,718 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Hercules Capital by 28.0% during the 3rd quarter. Franklin Resources Inc. now owns 387,225 shares of the financial services provider’s stock valued at $7,667,000 after buying an additional 84,780 shares during the period. Hedge funds and other institutional investors own 19.69% of the company’s stock.

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.