Hercules Capital (NYSE:HTGC) Price Target Cut to $20.00 by Analysts at Piper Sandler

Hercules Capital (NYSE:HTGC) had its target price reduced by Piper Sandler from $23.00 to $20.00 in a report published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on HTGC. Compass Point lifted their price target on Hercules Capital from $18.25 to $20.00 and gave the company a “neutral” rating in a research note on Wednesday, February 19th. JMP Securities reissued a “market outperform” rating and set a $22.00 price target on shares of Hercules Capital in a research report on Friday, February 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Hercules Capital from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $19.50 to $21.50 in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.70.

Hercules Capital Stock Performance

Shares of HTGC opened at $16.19 on Tuesday. Hercules Capital has a one year low of $15.80 and a one year high of $22.04. The company has a market cap of $2.80 billion, a PE ratio of 10.06 and a beta of 1.13. The stock has a 50-day moving average of $19.74 and a 200-day moving average of $19.73. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.72 and a quick ratio of 2.72.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings results on Thursday, February 13th. The financial services provider reported $0.49 EPS for the quarter, meeting analysts’ consensus estimates of $0.49. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. The business had revenue of $121.78 million during the quarter, compared to analyst estimates of $124.09 million. On average, equities research analysts predict that Hercules Capital will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Wednesday, February 26th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 11.61%. The ex-dividend date of this dividend was Wednesday, February 26th. Hercules Capital’s dividend payout ratio is 99.38%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of HTGC. Ameriflex Group Inc. purchased a new position in Hercules Capital in the fourth quarter valued at approximately $29,000. Avior Wealth Management LLC raised its stake in shares of Hercules Capital by 177.2% in the fourth quarter. Avior Wealth Management LLC now owns 1,802 shares of the financial services provider’s stock valued at $36,000 after buying an additional 1,152 shares during the period. Estabrook Capital Management grew its stake in shares of Hercules Capital by 239.0% during the 4th quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,324 shares during the period. Archer Investment Corp increased its holdings in Hercules Capital by 345.4% in the 4th quarter. Archer Investment Corp now owns 2,325 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 1,803 shares during the last quarter. Finally, Quarry LP bought a new stake in Hercules Capital in the 4th quarter valued at about $48,000. 19.69% of the stock is owned by institutional investors.

Hercules Capital Company Profile

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.