Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Friday, November 3rd, Fidelity reports. Investors of record on Monday, November 13th will be given a dividend of 0.31 per share by the financial services provider on Monday, November 20th. This represents a $1.24 annualized dividend and a dividend yield of 9.21%. The ex-dividend date is Friday, November 10th.
Hercules Capital has increased its dividend payment by an average of 3.8% per year over the last three years. Hercules Capital has a payout ratio of 106.9% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Hercules Capital to earn $1.28 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 96.9%.
Hercules Capital (NYSE HTGC) traded down $0.35 during trading hours on Monday, reaching $13.47. 723,800 shares of the company traded hands, compared to its average volume of 504,537. The firm has a market cap of $1,133.67, a PE ratio of 10.28, a P/E/G ratio of 2.32 and a beta of 0.84. Hercules Capital has a 1 year low of $11.64 and a 1 year high of $15.68. The company has a current ratio of 8.34, a quick ratio of 8.34 and a debt-to-equity ratio of 0.87.
Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, November 2nd. The financial services provider reported $0.29 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $46.22 million. Hercules Capital had a net margin of 72.11% and a return on equity of 15.96%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 EPS. research analysts forecast that Hercules Capital will post 1.16 EPS for the current fiscal year.
An institutional investor recently raised its position in Hercules Capital stock. The Manufacturers Life Insurance Company increased its position in shares of Hercules Capital, Inc. (NYSE:HTGC) by 29.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,858 shares of the financial services provider’s stock after purchasing an additional 2,034 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Hercules Capital were worth $117,000 at the end of the most recent quarter. Institutional investors own 42.04% of the company’s stock.
HTGC has been the subject of a number of recent research reports. BidaskClub cut shares of Hercules Capital from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Raymond James Financial, Inc. restated an “underperform” rating on shares of Hercules Capital in a research note on Friday, August 4th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price objective on shares of Hercules Capital in a research note on Sunday, August 6th. JMP Securities restated a “mkt outperform” rating and issued a $14.50 price objective on shares of Hercules Capital in a research note on Monday, August 7th. Finally, Zacks Investment Research cut shares of Hercules Capital from a “hold” rating to a “sell” rating in a research note on Monday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $14.34.
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About Hercules Capital
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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