Balboa Wealth Partners Acquires Shares of 26,894 Hercules Capital, Inc. (NYSE:HTGC)

Balboa Wealth Partners bought a new position in shares of Hercules Capital, Inc. (NYSE:HTGC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 26,894 shares of the financial services provider’s stock, valued at approximately $528,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC purchased a new stake in Hercules Capital in the 2nd quarter valued at $31,000. Kathleen S. Wright Associates Inc. purchased a new stake in Hercules Capital during the 3rd quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its position in Hercules Capital by 59,650.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 2,390 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 2,386 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Hercules Capital by 38.8% in the 2nd quarter. Hexagon Capital Partners LLC now owns 4,994 shares of the financial services provider’s stock valued at $102,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Armstrong Advisory Group Inc. increased its holdings in shares of Hercules Capital by 198.9% in the third quarter. Armstrong Advisory Group Inc. now owns 5,380 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 3,580 shares during the period. 19.69% of the stock is owned by institutional investors and hedge funds.

Hercules Capital Price Performance

Shares of NYSE:HTGC opened at $19.05 on Friday. The business has a fifty day simple moving average of $19.63 and a 200-day simple moving average of $19.70. Hercules Capital, Inc. has a 52 week low of $15.14 and a 52 week high of $21.78. The company has a market cap of $3.09 billion, a P/E ratio of 9.43 and a beta of 1.39. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.94.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.51 earnings per share for the quarter, hitting the consensus estimate of $0.51. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. The business had revenue of $125.25 million for the quarter, compared to analyst estimates of $125.80 million. During the same period in the prior year, the firm posted $0.52 EPS. Equities research analysts forecast that Hercules Capital, Inc. will post 2.02 EPS for the current year.

Hercules Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be paid a dividend of $0.48 per share. The ex-dividend date is Wednesday, November 13th. This represents a $1.92 annualized dividend and a dividend yield of 10.08%. Hercules Capital’s dividend payout ratio is presently 79.21%.

Insider Transactions at Hercules Capital

In related news, CEO Scott Bluestein sold 100,000 shares of Hercules Capital stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the transaction, the chief executive officer now owns 2,161,207 shares in the company, valued at approximately $42,338,045.13. The trade was a 4.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Hercules Capital from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Piper Sandler upped their price objective on Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, JMP Securities boosted their target price on Hercules Capital from $20.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $19.83.

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.