Golden State Wealth Management LLC Cuts Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Golden State Wealth Management LLC decreased its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 10.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,486 shares of the financial services provider’s stock after selling 12,172 shares during the period. Golden State Wealth Management LLC owned approximately 0.06% of Hercules Capital worth $1,988,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ares Management LLC boosted its stake in shares of Hercules Capital by 14.3% in the 4th quarter. Ares Management LLC now owns 226,606 shares of the financial services provider’s stock valued at $4,553,000 after purchasing an additional 28,300 shares in the last quarter. Left Brain Wealth Management LLC boosted its position in Hercules Capital by 32.2% during the 4th quarter. Left Brain Wealth Management LLC now owns 275,876 shares of the financial services provider’s stock valued at $5,542,000 after buying an additional 67,215 shares during the period. Marshall Wace LLP bought a new position in Hercules Capital in the 4th quarter worth $14,871,000. Ameriprise Financial Inc. raised its holdings in Hercules Capital by 9.7% in the 4th quarter. Ameriprise Financial Inc. now owns 325,912 shares of the financial services provider’s stock worth $6,548,000 after purchasing an additional 28,812 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in Hercules Capital by 27.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 20,218 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 4,352 shares in the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Insider Activity at Hercules Capital

In related news, Director Nikos Theodosopoulos purchased 5,999 shares of Hercules Capital stock in a transaction dated Thursday, May 8th. The stock was purchased at an average cost of $17.49 per share, for a total transaction of $104,922.51. Following the completion of the purchase, the director directly owned 11,960 shares of the company’s stock, valued at $209,180.40. The trade was a 100.64% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HTGC. Keefe, Bruyette & Woods decreased their price target on shares of Hercules Capital from $21.50 to $20.50 and set an “outperform” rating for the company in a research note on Tuesday, April 8th. UBS Group decreased their price target on shares of Hercules Capital from $20.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, April 17th. Wells Fargo & Company decreased their price target 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, Piper Sandler decreased their price target on shares of Hercules Capital from $23.00 to $20.00 and set an “overweight” rating for the company in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.92.

Hercules Capital Stock Performance

Shares of HTGC stock opened at $18.61 on Friday. The company has a 50 day moving average price of $17.84 and a 200-day moving average price of $18.95. Hercules Capital, Inc. has a 52 week low of $15.65 and a 52 week high of $22.04. The firm has a market capitalization of $3.26 billion, a PE ratio of 13.99 and a beta of 0.93. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.99.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 EPS for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). Hercules Capital had a return on equity of 16.84% and a net margin of 45.23%. The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $125.43 million. During the same quarter in the prior year, the firm earned $0.50 earnings per share. The business’s revenue was down 1.6% compared to the same quarter last year. As a group, equities research analysts expect that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Stockholders of record on Tuesday, May 13th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 13th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.60%. Hercules Capital’s dividend payout ratio is presently 120.30%.

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.