UBS Group Cuts Hercules Capital (NYSE:HTGC) Price Target to $18.00

Hercules Capital (NYSE:HTGC) had its price objective cut by UBS Group from $20.00 to $18.00 in a research report report published on Thursday,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $22.00 price target on shares of Hercules Capital in a report on Friday, February 14th. Piper Sandler cut their price target on Hercules Capital from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, April 8th. Compass Point boosted their price objective on Hercules Capital from $18.25 to $20.00 and gave the company a “neutral” rating in a report on Wednesday, February 19th. Finally, Keefe, Bruyette & Woods cut their target price on Hercules Capital from $21.50 to $20.50 and set an “outperform” rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $20.25.

Hercules Capital Stock Performance

Shares of Hercules Capital stock opened at $17.53 on Thursday. The company has a market cap of $3.08 billion, a P/E ratio of 10.89 and a beta of 1.13. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89. The business has a 50-day moving average price of $19.08 and a two-hundred day moving average price of $19.58. Hercules Capital has a 1-year low of $15.65 and a 1-year high of $22.04.

Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, February 13th. The financial services provider reported $0.49 EPS for the quarter, hitting the consensus estimate of $0.49. The business had revenue of $121.78 million during the quarter, compared to analysts’ expectations of $124.09 million. Hercules Capital had a return on equity of 17.19% and a net margin of 53.28%. As a group, analysts anticipate that Hercules Capital will post 1.96 EPS for the current year.

Hercules Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Wednesday, February 26th were given a dividend of $0.47 per share. The ex-dividend date was Wednesday, February 26th. This represents a $1.88 annualized dividend and a dividend yield of 10.73%. Hercules Capital’s payout ratio is 99.38%.

Hedge Funds Weigh In On Hercules Capital

Several large investors have recently bought and sold shares of HTGC. Rockefeller Capital Management L.P. boosted its position in Hercules Capital by 0.4% in the fourth quarter. Rockefeller Capital Management L.P. now owns 138,364 shares of the financial services provider’s stock worth $2,780,000 after purchasing an additional 496 shares during the last quarter. Morse Asset Management Inc increased its holdings in Hercules Capital by 1.7% during the third quarter. Morse Asset Management Inc now owns 34,900 shares of the financial services provider’s stock worth $685,000 after buying an additional 600 shares during the last quarter. Naples Global Advisors LLC boosted its stake in Hercules Capital by 1.0% in the fourth quarter. Naples Global Advisors LLC now owns 62,259 shares of the financial services provider’s stock valued at $1,251,000 after acquiring an additional 600 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hercules Capital by 2.0% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 32,832 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 628 shares during the last quarter. Finally, Sand Hill Global Advisors LLC lifted its stake in Hercules Capital by 2.5% in the fourth quarter. Sand Hill Global Advisors LLC now owns 27,417 shares of the financial services provider’s stock valued at $551,000 after purchasing an additional 665 shares during the last quarter. 19.69% of the stock is currently owned by institutional investors.

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.