Balboa Wealth Partners Makes New Investment in Hercules Capital, Inc. (NYSE:HTGC)

Balboa Wealth Partners acquired a new stake in shares of Hercules Capital, Inc. (NYSE:HTGC) during the third quarter, Holdings Channel.com reports. The fund acquired 26,894 shares of the financial services provider’s stock, valued at approximately $528,000.

Several other large investors also recently modified their holdings of HTGC. International Assets Investment Management LLC boosted its holdings in Hercules Capital by 1,861.8% in the third quarter. International Assets Investment Management LLC now owns 407,119 shares of the financial services provider’s stock valued at $79,960,000 after purchasing an additional 386,367 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in Hercules Capital by 2,067.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 353,221 shares of the financial services provider’s stock valued at $72,000 after acquiring an additional 336,921 shares during the last quarter. Van ECK Associates Corp grew its holdings in Hercules Capital by 11.8% during the 2nd quarter. Van ECK Associates Corp now owns 2,824,840 shares of the financial services provider’s stock worth $57,768,000 after acquiring an additional 298,992 shares in the last quarter. TrueMark Investments LLC bought a new stake in shares of Hercules Capital in the 2nd quarter worth about $3,015,000. Finally, Truvestments Capital LLC lifted its position in shares of Hercules Capital by 521.7% during the first quarter. Truvestments Capital LLC now owns 123,188 shares of the financial services provider’s stock worth $2,273,000 after purchasing an additional 103,374 shares during the last quarter. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Price Performance

Shares of NYSE HTGC opened at $19.05 on Friday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $3.09 billion, a PE ratio of 9.43 and a beta of 1.39. Hercules Capital, Inc. has a 1-year low of $15.14 and a 1-year high of $21.78. The business’s fifty day moving average price is $19.63 and its two-hundred day moving average price is $19.70.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51. The business had revenue of $125.25 million for the quarter, compared to analysts’ expectations of $125.80 million. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. During the same quarter last year, the company earned $0.52 EPS. On average, research analysts expect that Hercules Capital, Inc. will post 2.02 EPS for the current year.

Hercules Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 10.08%. The ex-dividend date of this dividend is Wednesday, November 13th. Hercules Capital’s dividend payout ratio (DPR) is 79.21%.

Insider Activity at Hercules Capital

In other Hercules Capital news, CEO Scott Bluestein sold 100,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $19.59, for a total value of $1,959,000.00. Following the completion of the sale, the chief executive officer now directly owns 2,161,207 shares in the company, valued at $42,338,045.13. This represents a 4.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.90% of the stock is owned by insiders.

Analysts Set New Price Targets

HTGC has been the topic of several research 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 note on Tuesday, October 29th. Piper Sandler raised their price objective on Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, JMP Securities boosted their target price on shares of Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $19.83.

Hercules Capital 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.