Independent Financial Group LLC Invests $1.23 Million in Hercules Capital, Inc. $HTGC

Independent Financial Group LLC acquired a new stake in Hercules Capital, Inc. (NYSE:HTGC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,400 shares of the financial services provider’s stock, valued at approximately $1,232,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tectonic Advisors LLC raised its position in Hercules Capital by 10.2% in the fourth quarter. Tectonic Advisors LLC now owns 759,746 shares of the financial services provider’s stock valued at $14,298,000 after purchasing an additional 70,235 shares during the period. Prevail Innovative Wealth Advisors LLC boosted its position in shares of Hercules Capital by 123.6% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 239,614 shares of the financial services provider’s stock worth $4,510,000 after buying an additional 132,466 shares during the period. Triad Investment Management purchased a new stake in shares of Hercules Capital in the 4th quarter valued at $1,958,000. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Hercules Capital by 15.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,018,759 shares of the financial services provider’s stock valued at $19,173,000 after buying an additional 133,813 shares during the period. Finally, UBS Group AG lifted its stake in Hercules Capital by 26.8% during the 4th quarter. UBS Group AG now owns 1,671,860 shares of the financial services provider’s stock worth $31,464,000 after acquiring an additional 353,092 shares in the last quarter. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Stock Performance

Shares of HTGC opened at $16.05 on Tuesday. The stock has a 50 day moving average price of $15.64 and a 200 day moving average price of $15.99. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.14. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 9.07 and a beta of 0.79. Hercules Capital, Inc. has a 52-week low of $13.70 and a 52-week high of $19.67.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Tuesday, May 5th. The financial services provider reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. Hercules Capital had a net margin of 59.85% and a return on equity of 16.05%. The company had revenue of $134.94 million for the quarter, compared to analyst estimates of $141.39 million. During the same period in the prior year, the firm posted $0.45 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. Research analysts predict that Hercules Capital, Inc. will post 1.93 EPS for the current fiscal year.

Hercules Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a $0.07 dividend. The ex-dividend date of this dividend was Thursday, May 14th. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. Hercules Capital’s payout ratio is 90.40%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HTGC. Keefe, Bruyette & Woods dropped their price objective on shares of Hercules Capital from $19.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Hercules Capital in a research report on Wednesday, June 17th. Piper Sandler increased their price objective on Hercules Capital from $16.50 to $17.00 and gave the company a “neutral” rating in a research note on Wednesday, May 6th. Citizens Jmp decreased their price target on shares of Hercules Capital from $24.00 to $22.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 22nd. Finally, UBS Group boosted their target price on shares of Hercules Capital from $15.00 to $15.50 and gave the stock a “neutral” rating in a research note on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.21.

Hercules Capital Company Profile

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.