Hercules Capital, Inc. (HTGC) To Go Ex-Dividend on August 11th

Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Monday, July 27th. Investors of record on Tuesday, August 11th will be given a dividend of 0.40 per share by the financial services provider on Tuesday, August 18th. This represents a c) dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date is Tuesday, August 11th. This is a 471.4% increase from Hercules Capital’s previous quarterly dividend of $0.07.

Hercules Capital has increased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Hercules Capital has a dividend payout ratio of 80.4% 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 $1.99 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 80.4%.

Hercules Capital Stock Performance

NYSE HTGC opened at $17.26 on Friday. The business has a 50 day moving average price of $15.86 and a 200 day moving average price of $15.78. The company has a market capitalization of $3.23 billion, a P/E ratio of 8.59 and a beta of 0.79. Hercules Capital has a 1-year low of $13.70 and a 1-year high of $19.67. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.37 and a quick ratio of 1.89.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, July 30th. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $134.41 million for the quarter, compared to the consensus estimate of $146.71 million. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.Hercules Capital’s quarterly revenue was up 8.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.50 earnings per share. Sell-side analysts expect that Hercules Capital will post 1.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Hercules Capital

A number of institutional investors have recently bought and sold shares of HTGC. Tectonic Advisors LLC boosted its holdings in Hercules Capital by 10.2% in the fourth quarter. Tectonic Advisors LLC now owns 759,746 shares of the financial services provider’s stock valued at $14,298,000 after acquiring an additional 70,235 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its stake in Hercules Capital by 123.6% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 239,614 shares of the financial services provider’s stock worth $4,510,000 after acquiring an additional 132,466 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Hercules Capital by 15.1% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,018,759 shares of the financial services provider’s stock worth $19,173,000 after acquiring an additional 133,813 shares during the last quarter. UBS Group AG raised its holdings in shares of Hercules Capital by 26.8% in the 4th quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider’s stock worth $31,464,000 after purchasing an additional 353,092 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Hercules Capital by 17.9% in the 4th quarter. Legal & General Group Plc now owns 1,382,084 shares of the financial services provider’s stock worth $26,004,000 after purchasing an additional 209,854 shares during the period. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

About Hercules Capital

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.