Hercules Capital, Inc. (HTGC) To Go Ex-Dividend on May 14th

Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Thursday, April 30th. Investors of record on Thursday, May 14th will be given a dividend of 0.07 per share by the financial services provider on Thursday, May 21st. This represents a c) annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Thursday, May 14th.

Hercules Capital has raised its dividend by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Hercules Capital has a dividend payout ratio of 80.4% indicating that 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 $16.05 on Tuesday. The company has a fifty day simple moving average of $15.03 and a 200 day simple moving average of $16.88. Hercules Capital has a 12-month low of $13.70 and a 12-month high of $19.67. The company has a current ratio of 1.89, a quick ratio of 1.89 and a debt-to-equity ratio of 1.14. The company has a market cap of $3.00 billion, a P/E ratio of 9.07 and a beta of 0.82.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $134.94 million during the quarter, compared to the consensus estimate of $141.39 million. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. Hercules Capital’s revenue was up 18.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.45 EPS. Sell-side analysts predict that Hercules Capital will post 1.93 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Thomas J. Fallon acquired 20,000 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were purchased at an average cost of $15.88 per share, with a total value of $317,600.00. Following the acquisition, the director directly owned 120,369 shares of the company’s stock, valued at $1,911,459.72. The trade was a 19.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Seth H. Meyer bought 7,000 shares of the stock in a transaction dated Friday, February 27th. The shares were acquired at an average price of $14.33 per share, for a total transaction of $100,310.00. Following the completion of the purchase, the chief financial officer directly owned 448,553 shares in the company, valued at approximately $6,427,764.49. This trade represents a 1.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 117,015 shares of company stock worth $1,749,620. Company insiders own 1.80% of the company’s stock.

Institutional Investors Weigh In On Hercules Capital

A number of hedge funds have recently made changes to their positions in the business. Quantum Portfolio Management LLC bought a new stake in shares of Hercules Capital during the 1st quarter worth $284,666,000. Van ECK Associates Corp raised its stake in shares of Hercules Capital by 0.8% during the 3rd quarter. Van ECK Associates Corp now owns 3,647,184 shares of the financial services provider’s stock worth $68,969,000 after purchasing an additional 28,757 shares during the period. Sound Income Strategies LLC raised its stake in shares of Hercules Capital by 25.1% during the 1st quarter. Sound Income Strategies LLC now owns 3,382,058 shares of the financial services provider’s stock worth $49,243,000 after purchasing an additional 678,783 shares during the period. LPL Financial LLC raised its stake in shares of Hercules Capital by 1.6% during the 4th quarter. LPL Financial LLC now owns 1,823,405 shares of the financial services provider’s stock worth $34,316,000 after purchasing an additional 29,292 shares during the period. Finally, UBS Group AG raised its stake in shares of Hercules Capital by 26.8% during 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. 19.69% of the stock is currently owned by 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.