Naples Global Advisors LLC Boosts Position in Hercules Capital, Inc. $HTGC

Naples Global Advisors LLC boosted its position in shares of Hercules Capital, Inc. (NYSE:HTGC) by 9.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,924 shares of the financial services provider’s stock after purchasing an additional 5,850 shares during the quarter. Naples Global Advisors LLC’s holdings in Hercules Capital were worth $1,278,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HTGC. N.E.W. Advisory Services LLC purchased a new stake in Hercules Capital during the first quarter worth $30,000. Alpine Bank Wealth Management purchased a new stake in shares of Hercules Capital in the second quarter valued at $33,000. Bessemer Group Inc. purchased a new stake in shares of Hercules Capital in the first quarter valued at $38,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hercules Capital by 51.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,629 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 897 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in shares of Hercules Capital by 79.5% in the first quarter. Farther Finance Advisors LLC now owns 4,292 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 1,901 shares in the last quarter. 19.69% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HTGC has been the topic of several recent research reports. Piper Sandler upped their price objective on Hercules Capital from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Citigroup restated an “outperform” rating on shares of Hercules Capital in a research report on Monday, August 4th. JMP Securities upped their price objective on Hercules Capital from $22.00 to $24.00 and gave the company a “market outperform” rating in a research report on Monday, August 4th. Finally, UBS Group upped their price objective on Hercules Capital from $18.50 to $19.00 and gave the company a “neutral” rating in a research report on Wednesday, July 16th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Hercules Capital currently has an average rating of “Moderate Buy” and an average price target of $20.58.

Hercules Capital Stock Performance

NYSE HTGC opened at $18.75 on Friday. The company has a market capitalization of $3.41 billion, a PE ratio of 12.41 and a beta of 0.96. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.96. The business’s 50-day moving average price is $19.23 and its 200 day moving average price is $18.48. Hercules Capital, Inc. has a twelve month low of $15.65 and a twelve month high of $22.04.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, topping the consensus estimate of $0.47 by $0.03. The company had revenue of $137.46 million during the quarter, compared to analyst estimates of $129.47 million. Hercules Capital had a return on equity of 16.54% and a net margin of 51.46%.The firm’s revenue was up 10.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 earnings per share. On average, research analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th were paid a dividend of $0.47 per share. This is a boost from Hercules Capital’s previous quarterly dividend of $0.40. This represents a $1.88 annualized dividend and a yield of 10.0%. The ex-dividend date was Tuesday, August 12th. Hercules Capital’s payout ratio is currently 105.96%.

About Hercules Capital

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.