Hercules Capital Inc (NYSE:HTGC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Investors of record on Monday, August 10th will be given a dividend of 0.32 per share by the financial services provider on Monday, August 17th. This represents a $1.28 annualized dividend and a dividend yield of 11.91%. The ex-dividend date of this dividend is Friday, August 7th.
Hercules Capital has increased its dividend payment by an average of 7.3% per year over the last three years and has raised its dividend annually for the last 2 consecutive years. Hercules Capital has a dividend payout ratio of 95.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Analysts expect Hercules Capital to earn $1.36 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 94.1%.
NYSE HTGC traded down $0.05 during trading on Thursday, hitting $10.75. The company’s stock had a trading volume of 3,869 shares, compared to its average volume of 636,120. Hercules Capital has a 52 week low of $5.42 and a 52 week high of $16.40. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 1.09. The firm has a market cap of $1.19 billion, a P/E ratio of 13.11 and a beta of 1.48. The firm has a 50 day moving average price of $10.61 and a 200 day moving average price of $11.42.
Several equities analysts recently issued reports on HTGC shares. Janney Montgomery Scott upgraded Hercules Capital from a “neutral” rating to a “buy” rating and set a $12.75 price target on the stock in a report on Friday, June 19th. Zacks Investment Research downgraded shares of Hercules Capital from a “buy” rating to a “hold” rating and set a $10.00 price objective for the company. in a research report on Tuesday, April 14th. Wedbush lowered their price target on shares of Hercules Capital from $15.00 to $13.50 and set an “outperform” rating for the company in a report on Wednesday, May 13th. Wells Fargo & Co upped their price target on shares of Hercules Capital from $10.75 to $11.25 and gave the company an “overweight” rating in a research report on Monday, April 27th. Finally, B. Riley reaffirmed a “buy” rating and issued a $12.00 price target on shares of Hercules Capital in a research note on Thursday, June 4th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. Hercules Capital presently has a consensus rating of “Buy” and an average target price of $11.50.
About Hercules Capital
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.
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