LPL Financial LLC Lowers Stake in Hercules Capital, Inc. (NYSE:HTGC)

LPL Financial LLC cut its position in Hercules Capital, Inc. (NYSE:HTGC) by 8.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 451,201 shares of the financial services provider’s stock after selling 40,451 shares during the period. LPL Financial LLC owned about 0.32% of Hercules Capital worth $5,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. EverSource Wealth Advisors LLC purchased a new position in Hercules Capital during the fourth quarter valued at $30,000. Delta Asset Management LLC TN bought a new position in Hercules Capital during the fourth quarter valued at $32,000. Hollencrest Capital Management bought a new stake in shares of Hercules Capital in the 4th quarter worth about $33,000. Money Concepts Capital Corp lifted its holdings in Hercules Capital by 220.3% during the 4th quarter. Money Concepts Capital Corp now owns 2,883 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,983 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in Hercules Capital by 170.6% during the 1st quarter. AlphaMark Advisors LLC now owns 2,998 shares of the financial services provider’s stock valued at $39,000 after buying an additional 1,890 shares in the last quarter. Institutional investors own 25.73% of the company’s stock.

Hercules Capital Price Performance

Shares of NYSE HTGC opened at $16.47 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 7.42 and a beta of 1.39. The firm has a fifty day moving average of $16.10 and a 200 day moving average of $14.59. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.28 and a current ratio of 2.28. Hercules Capital, Inc. has a one year low of $10.94 and a one year high of $18.05.

Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, August 3rd. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. Hercules Capital had a net margin of 75.19% and a return on equity of 17.33%. The business had revenue of $116.23 million during the quarter, compared to analyst estimates of $107.87 million. During the same quarter in the prior year, the firm earned $0.32 earnings per share. As a group, research analysts predict that Hercules Capital, Inc. will post 1.99 EPS for the current fiscal year.

Hercules Capital Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 18th were given a $0.48 dividend. The ex-dividend date of this dividend was Thursday, August 17th. This represents a $1.92 dividend on an annualized basis and a yield of 11.66%. This is a boost from Hercules Capital’s previous quarterly dividend of $0.47. Hercules Capital’s dividend payout ratio is presently 72.07%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Compass Point raised shares of Hercules Capital from a “neutral” rating to a “buy” rating and set a $17.50 target price on the stock in a research report on Wednesday. LADENBURG THALM/SH SH lifted their price objective on shares of Hercules Capital from $17.00 to $18.50 in a research report on Friday, August 4th. Oppenheimer lifted their price objective on shares of Hercules Capital from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Friday, August 4th. Keefe, Bruyette & Woods raised shares of Hercules Capital from an “underperform” rating to a “market perform” rating and lifted their price objective for the stock from $13.50 to $17.00 in a research report on Friday, August 4th. Finally, StockNews.com assumed coverage on shares of Hercules Capital in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, Hercules Capital presently has an average rating of “Moderate Buy” and a consensus price target of $16.69.

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.