Hercules Capital, Inc. (NYSE:HTGC) to Issue Quarterly Dividend of $0.48

Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Monday, October 28th, Zacks reports. Stockholders of record on Wednesday, November 13th will be given a dividend of 0.48 per share by the financial services provider on Wednesday, November 20th. This represents a $1.92 annualized dividend and a dividend yield of 9.60%. The ex-dividend date is Wednesday, November 13th.

Hercules Capital has raised its dividend payment by an average of 14.2% annually over the last three years. Hercules Capital has a dividend payout ratio of 78.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Hercules Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 77.7%.

Hercules Capital Stock Down 0.7 %

Shares of Hercules Capital stock opened at $20.00 on Wednesday. Hercules Capital has a twelve month low of $15.11 and a twelve month high of $21.78. The stock has a market cap of $3.24 billion, a price-to-earnings ratio of 9.09 and a beta of 1.39. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.94. The company has a fifty day moving average price of $19.45 and a 200 day moving average price of $19.63.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, August 1st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.51. The business had revenue of $125.01 million during the quarter, compared to analyst estimates of $124.99 million. Hercules Capital had a return on equity of 18.03% and a net margin of 57.82%. During the same quarter last year, the firm earned $0.53 earnings per share. Equities research analysts forecast that Hercules Capital will post 2.03 earnings per share for the current fiscal year.

Insider Activity

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

Analyst Upgrades and Downgrades

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

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.