Hercules Capital Inc (NYSE:HTGC) announced a quarterly dividend on Thursday, May 4th. Investors of record on Monday, May 15th will be paid a dividend of 0.31 per share by the financial services provider on Monday, May 22nd. This represents a $1.24 annualized dividend and a yield of 9.30%. The ex-dividend date is Thursday, May 11th.
Hercules Capital has raised its dividend by an average of 3.8% annually over the last three years. Hercules Capital has a dividend payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Hercules Capital to earn $1.40 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 88.6%.
Shares of Hercules Capital (NYSE:HTGC) traded down 0.60% during mid-day trading on Friday, reaching $13.26. 709,564 shares of the company’s stock were exchanged. Hercules Capital has a 52 week low of $11.85 and a 52 week high of $15.68. The stock has a 50 day moving average price of $14.51 and a 200 day moving average price of $14.31. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 21.46 and a beta of 0.91.
Hercules Capital (NYSE:HTGC) last issued its earnings results on Thursday, May 4th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.01. Hercules Capital had a return on equity of 11.69% and a net margin of 41.18%. The company had revenue of $46.37 million during the quarter, compared to analyst estimates of $48.33 million. During the same period in the previous year, the company posted $0.32 earnings per share. Equities research analysts predict that Hercules Capital will post $1.24 EPS for the current year.
An institutional investor recently raised its position in Hercules Capital stock. California Public Employees Retirement System boosted its position in shares of Hercules Capital Inc (NYSE:HTGC) by 34.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,000 shares of the financial services provider’s stock after buying an additional 8,400 shares during the period. California Public Employees Retirement System’s holdings in Hercules Capital were worth $499,000 as of its most recent filing with the SEC. 43.42% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on HTGC shares. Zacks Investment Research raised Hercules Capital from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, January 25th. Jefferies Group LLC reissued a “buy” rating and issued a $16.00 target price (up from $15.00) on shares of Hercules Capital in a report on Friday, January 27th. FBR & Co increased their price target on Hercules Capital from $15.00 to $16.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Raymond James Financial, Inc. lowered Hercules Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, February 24th. They noted that the move was a valuation call. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Hercules Capital in a research report on Thursday, April 6th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $14.71.
Hercules Capital Company Profile
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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