Napa Wealth Management Grows Holdings in Hercules Capital, Inc. (NYSE:HTGC)

Napa Wealth Management raised its position in Hercules Capital, Inc. (NYSE:HTGC) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,195 shares of the financial services provider’s stock after buying an additional 3,901 shares during the period. Hercules Capital comprises 1.1% of Napa Wealth Management’s investment portfolio, making the stock its 20th biggest position. Napa Wealth Management’s holdings in Hercules Capital were worth $2,495,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC increased its holdings in 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 in the last quarter. Estabrook Capital Management grew its position in shares of Hercules Capital by 239.0% in the fourth quarter. Estabrook Capital Management now owns 1,878 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,324 shares during the period. Archer Investment Corp grew its position in shares of Hercules Capital by 345.4% in the fourth quarter. Archer Investment Corp now owns 2,325 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 1,803 shares during the period. Quarry LP acquired a new stake in shares of Hercules Capital in the fourth quarter valued at about $48,000. Finally, Jones Financial Companies Lllp grew its position in shares of Hercules Capital by 199.6% in the fourth quarter. Jones Financial Companies Lllp now owns 4,042 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 2,693 shares during the period. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Stock Performance

HTGC opened at $17.82 on Tuesday. The firm has a market capitalization of $3.13 billion, a PE ratio of 11.07 and a beta of 0.97. Hercules Capital, Inc. has a twelve month low of $15.65 and a twelve month high of $22.04. The firm’s 50-day moving average price is $18.02 and its 200 day moving average price is $19.32. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89.

Hercules Capital (NYSE:HTGC) last posted its quarterly earnings results on Thursday, May 1st. The financial services provider reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $125.43 million. Hercules Capital had a return on equity of 17.19% and a net margin of 53.28%. The business’s revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 earnings per share. As a group, sell-side analysts expect that Hercules Capital, Inc. will post 1.96 EPS for the current fiscal year.

Hercules Capital Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 20th. Investors of record on Tuesday, May 13th will be given a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 13th. This represents a $1.60 dividend on an annualized basis and a yield of 8.98%. Hercules Capital’s payout ratio is presently 120.30%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on HTGC shares. Wells Fargo & Company dropped their target price on shares of Hercules Capital from $21.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th. JMP Securities reiterated a “market outperform” rating and issued a $22.00 target price on shares of Hercules Capital in a research report on Friday, February 14th. Piper Sandler dropped their target price on shares of Hercules Capital from $23.00 to $20.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods dropped their target price on shares of Hercules Capital from $21.50 to $20.50 and set an “outperform” rating on the stock in a research report on Tuesday, April 8th. Finally, Compass Point lifted their target price on shares of Hercules Capital from $18.25 to $20.00 and gave the company a “neutral” rating in a research report on Wednesday, February 19th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.92.

Insider Buying and Selling

In other news, Director Nikos Theodosopoulos bought 5,999 shares of the firm’s stock in a transaction on Thursday, May 8th. The shares were bought at an average cost of $17.49 per share, for a total transaction of $104,922.51. Following the acquisition, the director now directly owns 11,960 shares of the company’s stock, valued at $209,180.40. This trade represents a 100.64% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 1.90% of the stock is currently owned by company insiders.

Hercules Capital 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.