Grimes & Company Inc. Invests $185,000 in Hercules Capital, Inc. (NYSE:HTGC)

Grimes & Company Inc. bought a new position in Hercules Capital, Inc. (NYSE:HTGC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,040 shares of the financial services provider’s stock, valued at approximately $185,000.

Other hedge funds also recently made changes to their positions in the company. NBC Securities Inc. increased its holdings in shares of Hercules Capital by 154.8% in the 1st quarter. NBC Securities Inc. now owns 2,624 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 1,594 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Hercules Capital in the 4th quarter valued at about $53,000. Cape Investment Advisory Inc. purchased a new position in shares of Hercules Capital in the 4th quarter valued at about $56,000. Signaturefd LLC increased its holdings in shares of Hercules Capital by 30.4% in the 4th quarter. Signaturefd LLC now owns 3,382 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 789 shares in the last quarter. Finally, Orion Capital Management LLC purchased a new position in Hercules Capital during the 3rd quarter valued at about $66,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Hercules Capital Trading Up 0.8 %

Shares of NYSE HTGC traded up $0.17 during midday trading on Friday, reaching $20.45. 851,501 shares of the stock were exchanged, compared to its average volume of 696,821. The company has a market capitalization of $3.32 billion, a P/E ratio of 9.30 and a beta of 1.36. Hercules Capital, Inc. has a 52-week low of $14.52 and a 52-week high of $20.57. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.93. The stock has a 50 day moving average price of $19.54 and a 200-day moving average price of $18.28.

Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.02. Hercules Capital had a net margin of 69.98% and a return on equity of 18.35%. The business had revenue of $121.55 million for the quarter, compared to analysts’ expectations of $121.86 million. During the same period last year, the company earned $0.47 earnings per share. The company’s quarterly revenue was up 15.7% on a year-over-year basis. Equities research analysts expect that Hercules Capital, Inc. will post 2.06 earnings per share for the current fiscal year.

Hercules Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Investors of record on Tuesday, May 14th were given a $0.48 dividend. The ex-dividend date of this dividend was Monday, May 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.39%. Hercules Capital’s dividend payout ratio is presently 72.73%.

Wall Street Analyst Weigh In

Several research firms have weighed in on HTGC. JMP Securities raised their target price on shares of Hercules Capital from $19.00 to $20.00 and gave the company a “market outperform” rating in a report on Friday, May 3rd. Keefe, Bruyette & Woods raised their target price on shares of Hercules Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Wells Fargo & Company raised their target price on shares of Hercules Capital from $19.50 to $20.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Piper Sandler raised their target price on shares of Hercules Capital from $21.00 to $21.50 and gave the company an “overweight” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $18.56.

Insider Buying and Selling

In other Hercules Capital news, Director Robert P. Badavas sold 13,300 shares of Hercules Capital stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $19.69, for a total transaction of $261,877.00. Following the transaction, the director now directly owns 4,234 shares of the company’s stock, valued at $83,367.46. The sale was disclosed in a filing with the SEC, which is available at this link. In other Hercules Capital news, Director Robert P. Badavas sold 13,300 shares of Hercules Capital stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $19.69, for a total transaction of $261,877.00. Following the transaction, the director now directly owns 4,234 shares of the company’s stock, valued at $83,367.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert P. Badavas sold 1,700 shares of Hercules Capital stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $19.60, for a total transaction of $33,320.00. Following the sale, the director now owns 4,234 shares in the company, valued at approximately $82,986.40. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

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.