Gilman Hill Asset Management LLC boosted its position in shares of Hercules Capital, Inc. (NYSE:HTGC – Get Rating) by 22.5% in the second quarter, HoldingsChannel reports. The fund owned 641,091 shares of the financial services provider’s stock after purchasing an additional 117,733 shares during the quarter. Hercules Capital makes up 1.9% of Gilman Hill Asset Management LLC’s portfolio, making the stock its 10th largest position. Gilman Hill Asset Management LLC’s holdings in Hercules Capital were worth $8,648,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Border to Coast Pensions Partnership Ltd purchased a new position in Hercules Capital during the 1st quarter worth approximately $16,938,000. Leeward Investments LLC MA purchased a new position in shares of Hercules Capital in the 1st quarter valued at $14,390,000. Van ECK Associates Corp increased its stake in Hercules Capital by 26.9% during the 1st quarter. Van ECK Associates Corp now owns 1,871,922 shares of the financial services provider’s stock worth $33,826,000 after buying an additional 396,491 shares during the period. Atria Wealth Solutions Inc. acquired a new position in Hercules Capital during the 1st quarter worth $4,706,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of Hercules Capital by 1,006.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 206,465 shares of the financial services provider’s stock valued at $3,425,000 after buying an additional 187,809 shares during the period. Institutional investors and hedge funds own 23.79% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently commented on HTGC. Oppenheimer lowered shares of Hercules Capital from an “outperform” rating to a “market perform” rating and cut their target price for the company from $18.00 to $15.00 in a research note on Friday, July 29th. JMP Securities reduced their price objective on Hercules Capital from $19.00 to $18.00 and set a “market outperform” rating for the company in a research report on Monday, August 1st. Piper Sandler cut their target price on Hercules Capital from $18.50 to $15.50 and set a “neutral” rating on the stock in a report on Tuesday, June 28th. StockNews.com lowered Hercules Capital from a “hold” rating to a “sell” rating in a report on Monday, June 20th. Finally, Compass Point dropped their price objective on Hercules Capital to $15.75 in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $17.38.
Hercules Capital Stock Performance
Hercules Capital (NYSE:HTGC – Get Rating) last announced its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). The company had revenue of $72.12 million for the quarter, compared to analysts’ expectations of $72.41 million. Hercules Capital had a net margin of 4.86% and a return on equity of 11.63%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. Sell-side analysts predict that Hercules Capital, Inc. will post 1.35 EPS for the current fiscal year.
Hercules Capital Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 16th. Investors of record on Tuesday, August 9th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 15.53%. The ex-dividend date of this dividend was Monday, August 8th. This is a boost from Hercules Capital’s previous quarterly dividend of $0.33. Hercules Capital’s payout ratio is currently 1,272.84%.
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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