Hercules Capital, Inc. Plans Quarterly Dividend of $0.48 (NYSE:HTGC)

Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Monday, October 28th,Zacks Dividends reports. Investors of record on Wednesday, November 13th will be paid a dividend of 0.48 per share by the financial services provider on Wednesday, November 20th. This represents a $1.92 annualized dividend and a yield of 9.61%. The ex-dividend date is Wednesday, November 13th.

Hercules Capital has raised its dividend payment by an average of 14.2% annually over the last three years. Hercules Capital has a payout ratio of 80.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Hercules Capital to earn $2.02 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 79.2%.

Hercules Capital Price Performance

Shares of NYSE HTGC opened at $19.97 on Tuesday. The firm has a market cap of $3.24 billion, a PE ratio of 9.89 and a beta of 1.39. The firm has a fifty day moving average of $19.61 and a 200 day moving average of $19.70. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.61 and a current ratio of 1.61. Hercules Capital has a one year low of $15.14 and a one year high of $21.78.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, hitting the consensus estimate of $0.51. The company had revenue of $125.25 million during the quarter, compared to analyst estimates of $125.80 million. Hercules Capital had a net margin of 65.07% and a return on equity of 17.88%. During the same quarter in the previous year, the firm earned $0.52 EPS. As a group, research analysts predict that Hercules Capital will post 2.02 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity

In other news, CEO Scott Bluestein sold 100,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $42,338,045.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.