Hercules Capital, Inc. (NYSE:HTGC) to Issue $0.33 Quarterly Dividend

Hercules Capital, Inc. (NYSE:HTGCGet Rating) declared a quarterly dividend on Wednesday, May 4th, Wall Street Journal reports. Stockholders of record on Tuesday, May 17th will be given a dividend of 0.33 per share by the financial services provider on Tuesday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 7.63%. The ex-dividend date of this dividend is Monday, May 16th.

Hercules Capital has increased its dividend payment by an average of 7.2% annually 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 90.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities analysts expect Hercules Capital to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 91.7%.

NYSE HTGC opened at $17.29 on Thursday. Hercules Capital has a 1-year low of $15.91 and a 1-year high of $19.09. The company has a market cap of $2.14 billion, a P/E ratio of 12.09, a P/E/G ratio of 0.49 and a beta of 1.36. The company has a debt-to-equity ratio of 0.94, a current ratio of 3.22 and a quick ratio of 3.22. The stock has a 50-day moving average of $17.84 and a two-hundred day moving average of $17.40.

Hercules Capital (NYSE:HTGCGet Rating) last announced its quarterly earnings data on Tuesday, February 22nd. The financial services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. Hercules Capital had a return on equity of 11.28% and a net margin of 61.98%. The business had revenue of $72.50 million during the quarter, compared to the consensus estimate of $70.86 million. During the same period in the previous year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. On average, analysts anticipate that Hercules Capital will post 1.35 EPS for the current fiscal year.

Several research firms recently weighed in on HTGC. Wells Fargo & Company boosted their target price on Hercules Capital from $18.50 to $19.00 and gave the stock an “overweight” rating in a research note on Monday, April 25th. Piper Sandler cut Hercules Capital from an “overweight” rating to a “neutral” rating and set a $19.00 target price for the company. in a research note on Monday, April 4th. StockNews.com began coverage on Hercules Capital in a research note on Thursday, March 31st. They set a “hold” rating for the company. Keefe, Bruyette & Woods cut Hercules Capital from an “outperform” rating to a “market perform” rating and set a $18.00 target price for the company. in a research note on Friday, April 22nd. Finally, Compass Point cut Hercules Capital from a “buy” rating to a “neutral” rating and set a $18.00 target price for the company. in a research note on Tuesday, February 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Hercules Capital has an average rating of “Buy” and a consensus price target of $18.54.

Hedge funds and other institutional investors have recently bought and sold shares of the business. NewEdge Advisors LLC acquired a new position in shares of Hercules Capital during the fourth quarter worth about $231,000. Paradigm Financial Partners LLC acquired a new position in shares of Hercules Capital during the fourth quarter worth about $319,000. Squarepoint Ops LLC acquired a new position in shares of Hercules Capital during the fourth quarter worth about $356,000. Millennium Management LLC acquired a new position in shares of Hercules Capital during the fourth quarter worth about $487,000. Finally, Toroso Investments LLC increased its stake in shares of Hercules Capital by 47.8% during the fourth quarter. Toroso Investments LLC now owns 29,683 shares of the financial services provider’s stock worth $492,000 after acquiring an additional 9,603 shares during the period. Institutional investors own 25.51% of the company’s stock.

About Hercules Capital (Get Rating)

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.

Further Reading

Dividend History for Hercules Capital (NYSE:HTGC)

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