Van ECK Associates Corp Purchases 713,653 Shares of Hercules Capital, Inc. $HTGC

Van ECK Associates Corp lifted its position in shares of Hercules Capital, Inc. (NYSE:HTGC) by 22.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,877,634 shares of the financial services provider’s stock after purchasing an additional 713,653 shares during the quarter. Van ECK Associates Corp’s holdings in Hercules Capital were worth $61,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Archer Investment Corp bought a new position in Hercules Capital in the second quarter worth $32,000. Beacon Pointe Advisors LLC bought a new stake in Hercules Capital in the 2nd quarter valued at $1,047,000. Empowered Funds LLC bought a new stake in Hercules Capital in the 2nd quarter valued at $350,000. Caitlin John LLC acquired a new position in shares of Hercules Capital in the 2nd quarter valued at $42,000. Finally, Centaurus Financial Inc. acquired a new position in shares of Hercules Capital in the 2nd quarter valued at $1,694,000. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Stock Performance

Shares of NYSE:HTGC opened at $17.46 on Friday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.37 and a quick ratio of 1.37. The business’s fifty day moving average price is $16.34 and its two-hundred day moving average price is $15.66. Hercules Capital, Inc. has a fifty-two week low of $13.70 and a fifty-two week high of $19.62. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 8.69 and a beta of 0.79.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Hercules Capital had a return on equity of 16.01% and a net margin of 67.68%.The company had revenue of $134.41 million during the quarter, compared to analysts’ expectations of $146.71 million. During the same period last year, the business earned $0.50 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. As a group, analysts predict that Hercules Capital, Inc. will post 1.95 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 18th. Investors of record on Tuesday, August 11th were issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $1.60 annualized dividend and a yield of 9.2%. This is an increase from Hercules Capital’s previous quarterly dividend of $0.07. Hercules Capital’s payout ratio is 79.60%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HTGC. UBS Group lifted their target price on shares of Hercules Capital from $15.00 to $15.50 and gave the company a “neutral” rating in a research report on Monday, May 18th. Piper Sandler increased their price target on shares of Hercules Capital from $16.50 to $17.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 6th. LADENBURG THALM/SH SH cut their price target on shares of Hercules Capital from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, July 31st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hercules Capital has an average rating of “Moderate Buy” and a consensus target price of $18.46.

Hercules Capital Company Profile

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.