Hercules Capital, Inc. $HTGC Position Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its holdings in shares of Hercules Capital, Inc. (NYSE:HTGC) by 12.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,058 shares of the financial services provider’s stock after selling 34,260 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hercules Capital were worth $4,405,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HTGC. Centaurus Financial Inc. lifted its holdings in shares of Hercules Capital by 1.8% during the 3rd quarter. Centaurus Financial Inc. now owns 37,819 shares of the financial services provider’s stock valued at $715,000 after buying an additional 675 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Hercules Capital by 11.4% during the 3rd quarter. Allworth Financial LP now owns 6,652 shares of the financial services provider’s stock valued at $126,000 after buying an additional 680 shares during the last quarter. Foundations Investment Advisors LLC lifted its holdings in shares of Hercules Capital by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 25,902 shares of the financial services provider’s stock valued at $490,000 after buying an additional 732 shares during the last quarter. Dakota Wealth Management lifted its holdings in shares of Hercules Capital by 1.9% during the 3rd quarter. Dakota Wealth Management now owns 38,720 shares of the financial services provider’s stock valued at $732,000 after buying an additional 735 shares during the last quarter. Finally, Cornerstone Wealth Management LLC lifted its holdings in shares of Hercules Capital by 3.6% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 21,176 shares of the financial services provider’s stock valued at $400,000 after buying an additional 736 shares during the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HTGC shares. UBS Group lifted their price target on Hercules Capital from $15.00 to $15.50 and gave the company a “neutral” rating in a report on Monday, May 18th. Piper Sandler lifted their price target on Hercules Capital from $16.50 to $17.00 and gave the company a “neutral” rating in a report on Wednesday, May 6th. Weiss Ratings lowered Hercules Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, February 24th. Keefe, Bruyette & Woods reduced their price target on Hercules Capital from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Finally, Citizens Jmp reduced their price target on Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating for the company in a report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $18.21.

Hercules Capital Stock Up 0.0%

Shares of HTGC stock opened at $15.35 on Tuesday. Hercules Capital, Inc. has a 12 month low of $13.70 and a 12 month high of $19.67. The firm has a market cap of $2.87 billion, a PE ratio of 8.67 and a beta of 0.82. The stock has a 50 day moving average of $15.22 and a 200-day moving average of $16.72. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.14.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. Hercules Capital had a return on equity of 16.05% and a net margin of 59.85%.The company had revenue of $134.94 million during the quarter, compared to analyst estimates of $141.39 million. During the same period in the previous year, the company earned $0.45 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. On average, equities analysts predict that Hercules Capital, Inc. will post 1.93 EPS for the current year.

Hercules Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 14th were issued a dividend of $0.07 per share. The ex-dividend date was Thursday, May 14th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Hercules Capital’s payout ratio is 90.40%.

Insider Activity at Hercules Capital

In other Hercules Capital news, Director Thomas J. Fallon purchased 20,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was bought at an average cost of $14.20 per share, for a total transaction of $284,000.00. Following the completion of the acquisition, the director directly owned 150,369 shares in the company, valued at $2,135,239.80. This represents a 15.34% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert P. Badavas acquired 5,000 shares of the stock in a transaction dated Friday, February 27th. The shares were purchased at an average price of $14.27 per share, for a total transaction of $71,350.00. Following the completion of the transaction, the director owned 122,073 shares of the company’s stock, valued at $1,741,981.71. This trade represents a 4.27% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders acquired 49,250 shares of company stock valued at $706,042. 1.80% of the stock is owned by corporate insiders.

About Hercules Capital

Hercules Capital, Inc is a specialty finance company organized as a business development company (BDC) that provides tailored debt financing solutions to high‐growth companies. Through its external management structure, Hercules Capital extends senior secured loans, subordinated debt and growth capital designed to support research and development, expansion initiatives and working capital needs. The firm primarily partners with venture capital and private equity sponsors to finance innovative enterprises across various developmental stages.

The company’s investment portfolio is concentrated in technology, life sciences and sustainable and renewable technology sectors, reflecting its focus on industries with strong growth prospects and recurring capital requirements.