Hercules Capital (NYSE:HTGC) Announces Earnings Results

Hercules Capital (NYSE:HTGC) issued its earnings results on Wednesday. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.51, Briefing.com reports. Hercules Capital had a net margin of 65.07% and a return on equity of 17.89%. The business had revenue of $125.25 million during the quarter, compared to analysts’ expectations of $125.80 million. During the same period in the previous year, the company earned $0.52 earnings per share.

Hercules Capital Stock Performance

Shares of HTGC traded down $0.53 on Friday, reaching $19.23. The company’s stock had a trading volume of 2,069,847 shares, compared to its average volume of 917,028. The stock’s 50 day simple moving average is $19.53 and its two-hundred day simple moving average is $19.64. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market capitalization of $3.12 billion, a P/E ratio of 9.53 and a beta of 1.39. Hercules Capital has a 12-month low of $15.14 and a 12-month high of $21.78.

Hercules Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 9.98%. The ex-dividend date of this dividend is Wednesday, November 13th. Hercules Capital’s payout ratio is currently 79.21%.

Insider Buying and Selling at Hercules Capital

In other Hercules Capital news, Director Nikos Theodosopoulos purchased 1,608 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were acquired at an average price of $18.03 per share, for a total transaction of $28,992.24. Following the purchase, the director now directly owns 5,613 shares of the company’s stock, valued at $101,202.39. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Hercules Capital news, CEO Scott Bluestein sold 100,000 shares of Hercules Capital stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the transaction, the chief executive officer now owns 2,161,207 shares of the company’s stock, valued at $42,338,045.13. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Nikos Theodosopoulos acquired 1,608 shares of Hercules Capital stock in a transaction dated Tuesday, August 6th. The stock was purchased at an average cost of $18.03 per share, with a total value of $28,992.24. Following the completion of the purchase, the director now owns 5,613 shares of the company’s stock, valued at approximately $101,202.39. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HTGC has been the topic of several analyst reports. Wells Fargo & Company upped their price objective on Hercules Capital from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday. JMP Securities lifted their price objective on Hercules Capital from $20.00 to $22.00 and gave the stock a “market outperform” rating in a report on Tuesday, July 30th. Finally, Piper Sandler upped their target price on shares of Hercules Capital from $22.00 to $22.50 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.83.

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.