Hercules Capital (NYSE:HTGC) Releases Quarterly Earnings Results, Meets Estimates

by · The Cerbat Gem

Hercules Capital (NYSE:HTGC – Get Free Report) released its quarterly earnings results on Wednesday. The financial services provider reported $0.51 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.51, Briefing.com reports. The business had revenue of $125.25 million during the quarter, compared to analysts’ expectations of $125.80 million. Hercules Capital had a return on equity of 18.03% and a net margin of 57.82%. During the same period in the prior year, the business posted $0.52 EPS.

Hercules Capital Stock Performance

Shares of HTGC stock traded down $0.07 during trading hours on Thursday, hitting $19.83. The stock had a trading volume of 551,587 shares, compared to its average volume of 909,320. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.42 and a quick ratio of 1.42. The firm has a market capitalization of $3.22 billion, a PE ratio of 9.05 and a beta of 1.39. The stock’s 50 day moving average is $19.48 and its 200 day moving average is $19.63. Hercules Capital has a twelve month low of $15.14 and a twelve month high of $21.78.

Hercules Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Wednesday, November 13th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.92 dividend on an annualized basis and a yield of 9.68%. Hercules Capital’s dividend payout ratio is presently 72.73%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HTGC shares. Wells Fargo & Company raised their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday. JMP Securities lifted their target price on Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a research report on Tuesday, July 30th. Finally, Piper Sandler increased their price target on shares of Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $19.83.

Check Out Our Latest Stock Analysis on HTGC

Insiders Place Their Bets

In related news, CEO Scott Bluestein sold 100,000 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $19.59, for a total value of $1,959,000.00. Following the transaction, the chief executive officer now owns 2,161,207 shares in the company, valued at $42,338,045.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Nikos Theodosopoulos acquired 1,608 shares of Hercules Capital stock in a transaction that occurred on Tuesday, August 6th. The stock was purchased at an average price of $18.03 per share, for a total transaction of $28,992.24. Following the completion of the transaction, the director now directly owns 5,613 shares in the company, valued at approximately $101,202.39. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Bluestein sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $19.59, for a total value of $1,959,000.00. Following the transaction, the chief executive officer now owns 2,161,207 shares in the company, valued at $42,338,045.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is currently owned by insiders.

About Hercules Capital

(Get Free Report)

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.

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