SVB Wealth LLC Cuts Position in Hercules Capital, Inc. (NYSE:HTGC)

SVB Wealth LLC reduced its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC) by 10.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,572 shares of the financial services provider’s stock after selling 7,569 shares during the quarter. SVB Wealth LLC’s holdings in Hercules Capital were worth $1,110,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Graypoint LLC purchased a new stake in Hercules Capital during the 3rd quarter worth $2,071,000. Bleakley Financial Group LLC purchased a new stake in shares of Hercules Capital in the fourth quarter worth about $613,000. Mckinley Capital Management LLC grew its stake in shares of Hercules Capital by 60.8% in the third quarter. Mckinley Capital Management LLC now owns 348,992 shares of the financial services provider’s stock valued at $5,730,000 after buying an additional 131,924 shares in the last quarter. Sound Income Strategies LLC lifted its position in Hercules Capital by 2.4% during the 4th quarter. Sound Income Strategies LLC now owns 2,580,372 shares of the financial services provider’s stock worth $43,015,000 after acquiring an additional 59,263 shares in the last quarter. Finally, Barclays PLC purchased a new position in Hercules Capital in the 3rd quarter worth approximately $628,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HTGC shares. Compass Point lowered shares of Hercules Capital from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $17.00 to $17.50 in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods raised their target price on Hercules Capital from $17.00 to $18.00 and gave the company a “market perform” rating in a research note on Friday, February 16th. Wells Fargo & Company increased their price target on Hercules Capital from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Monday, January 29th. Piper Sandler upped their target price on Hercules Capital from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Wednesday, April 10th. Finally, JMP Securities raised their price target on shares of Hercules Capital from $18.00 to $19.00 and gave the stock a “market outperform” rating in a research report on Tuesday, March 26th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $18.00.

Hercules Capital Stock Performance

Shares of HTGC opened at $18.26 on Friday. The stock has a market capitalization of $2.96 billion, a PE ratio of 7.90 and a beta of 1.34. The business’s fifty day moving average price is $18.20 and its 200 day moving average price is $16.93. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.75 and a quick ratio of 2.75. Hercules Capital, Inc. has a 12-month low of $12.40 and a 12-month high of $18.88.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, February 15th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. Hercules Capital had a net margin of 73.26% and a return on equity of 18.60%. The company had revenue of $122.60 million for the quarter, compared to the consensus estimate of $117.48 million. During the same period last year, the firm posted $0.47 EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. Equities research analysts forecast that Hercules Capital, Inc. will post 2.05 EPS for the current year.

Hercules Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 6th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 10.51%. The ex-dividend date was Tuesday, February 27th. Hercules Capital’s dividend payout ratio (DPR) is presently 69.26%.

Hercules Capital Company 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.