Hercules Capital, Inc. (NYSE:HTGC) Shares Sold by Fulton Bank N.A.

Fulton Bank N.A. lessened its stake in Hercules Capital, Inc. (NYSE:HTGC) by 11.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,417 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. Fulton Bank N.A.’s holdings in Hercules Capital were worth $315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in HTGC. International Assets Investment Management LLC increased its stake in Hercules Capital by 1,567.0% during the fourth quarter. International Assets Investment Management LLC now owns 1,345,736 shares of the financial services provider’s stock worth $22,433,000 after acquiring an additional 1,265,008 shares during the last quarter. Van ECK Associates Corp increased its stake in Hercules Capital by 18.8% during the fourth quarter. Van ECK Associates Corp now owns 2,414,747 shares of the financial services provider’s stock worth $40,254,000 after acquiring an additional 381,318 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Hercules Capital during the first quarter worth $6,950,000. Global Assets Advisory LLC increased its stake in Hercules Capital by 1,920.8% during the first quarter. Global Assets Advisory LLC now owns 221,051 shares of the financial services provider’s stock worth $4,078,000 after acquiring an additional 210,112 shares during the last quarter. Finally, Waterloo Capital L.P. acquired a new stake in Hercules Capital during the fourth quarter worth $1,803,000. Institutional investors and hedge funds own 19.69% of the company’s stock.

Insiders Place Their Bets

In other Hercules Capital news, Director Robert P. Badavas sold 13,300 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total transaction of $261,877.00. Following the transaction, the director now owns 4,234 shares in the company, valued at approximately $83,367.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert P. Badavas sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total value of $261,877.00. Following the sale, the director now owns 4,234 shares in the company, valued at approximately $83,367.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Robert P. Badavas sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The stock was sold at an average price of $19.60, for a total value of $33,320.00. Following the completion of 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. 1.90% of the stock is currently owned by insiders.

Hercules Capital Stock Performance

Shares of Hercules Capital stock traded up $0.73 on Tuesday, hitting $18.44. The stock had a trading volume of 1,995,187 shares, compared to its average volume of 966,102. Hercules Capital, Inc. has a 52-week low of $15.02 and a 52-week high of $21.78. 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 market cap of $2.99 billion, a price-to-earnings ratio of 8.38 and a beta of 1.39. The company’s 50 day moving average price is $20.38 and its 200 day moving average price is $19.10.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.51. The firm had revenue of $125.01 million for the quarter, compared to analysts’ expectations of $124.99 million. Hercules Capital had a return on equity of 18.22% and a net margin of 57.82%. During the same quarter in the previous year, the firm posted $0.53 EPS. On average, research analysts anticipate that Hercules Capital, Inc. will post 2.06 EPS for the current year.

Hercules Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Shareholders of record on Tuesday, August 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 10.41%. The ex-dividend date is Tuesday, August 13th. Hercules Capital’s payout ratio is 72.73%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HTGC. Piper Sandler raised their target price on Hercules Capital from $22.00 to $22.50 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company lifted their price objective on Hercules Capital from $20.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. JMP Securities lifted their price objective on Hercules Capital from $20.00 to $22.00 and gave the company a “market outperform” rating in a research note on Tuesday, July 30th. Finally, Keefe, Bruyette & Woods lifted their price objective on Hercules Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hercules Capital presently has an average rating of “Hold” and an average price target of $20.00.

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.