Hercules Capital, Inc. $HTGC Stock: Tectonic Advisors LLC Grows Holdings

Tectonic Advisors LLC increased its stake in shares of Hercules Capital, Inc. (NYSE:HTGC) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,101,790 shares of the financial services provider’s stock after acquiring an additional 95,382 shares during the quarter. Hercules Capital makes up about 0.8% of Tectonic Advisors LLC’s portfolio, making the stock its 23rd largest position. Tectonic Advisors LLC’s holdings in Hercules Capital were worth $18,521,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of HTGC. Van ECK Associates Corp raised its holdings in shares of Hercules Capital by 22.6% during the second quarter. Van ECK Associates Corp now owns 3,877,634 shares of the financial services provider’s stock valued at $61,150,000 after purchasing an additional 713,653 shares during the period. Bank of America Corp DE bought a new position in shares of Hercules Capital during the 2nd quarter worth about $4,095,000. BlackRock Inc. bought a new position in shares of Hercules Capital during the 2nd quarter worth about $14,573,000. Sound Income Strategies LLC grew its stake in shares of Hercules Capital by 25.1% in the 1st quarter. Sound Income Strategies LLC now owns 3,382,058 shares of the financial services provider’s stock valued at $49,243,000 after buying an additional 678,783 shares during the period. Finally, Legal & General Group Plc acquired a new stake in shares of Hercules Capital in the 2nd quarter valued at about $26,523,000. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Stock Down 0.6%

NYSE HTGC traded down $0.10 during mid-day trading on Friday, hitting $16.39. The company’s stock had a trading volume of 891,855 shares, compared to its average volume of 1,112,575. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 8.16 and a beta of 0.82. The company’s 50 day simple moving average is $17.05 and its 200 day simple moving average is $16.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 1.03. Hercules Capital, Inc. has a twelve month low of $13.70 and a twelve month high of $19.13.

Hercules Capital (NYSE:HTGC) last released its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a net margin of 67.68% and a return on equity of 16.01%. The firm had revenue of $134.41 million for the quarter, compared to the consensus estimate of $146.71 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue was up 8.4% on a year-over-year basis. Analysts anticipate that Hercules Capital, Inc. will post 1.95 earnings per share for the current year.

Hercules Capital Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 18th. Stockholders of record on Tuesday, August 11th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, August 11th. This is a boost from Hercules Capital’s previous quarterly dividend of $0.07. This represents a $1.60 annualized dividend and a dividend yield of 9.8%. Hercules Capital’s payout ratio is presently 79.60%.

Wall Street Analysts Forecast Growth

HTGC has been the subject of a number of research analyst reports. Weiss Ratings lowered Hercules Capital from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, October 13th. LADENBURG THALM/SH SH cut their price target on Hercules Capital from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, July 31st. Finally, UBS Group upgraded Hercules Capital from a “neutral” rating to a “buy” rating and increased their price target for the stock from $15.50 to $18.50 in a report on Tuesday, September 1st. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.89.

About Hercules Capital

Hercules Capital, Inc is a business development company and specialty finance firm that provides debt financing to innovative, growth-oriented companies. The company focuses primarily on venture capital-backed businesses in the technology, life sciences, and sustainable and specialty technology sectors.

Hercules Capital offers secured loans and other forms of growth capital designed to support companies through various stages of development, including expansion, acquisitions, recapitalizations, and initial public offerings.