Hercules Technology Growth Capital Inc. (NYSE:HTGC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Thursday.

According to Zacks, “Hercules Capital’s third-quarter 2016 earnings were in line with the Zacks Consensus Estimate. Lower operating expenses, sound liquidity position and growth in investment portfolio supported the results. However, a decrease in total investment income was an undermining factor. The company's loan origination activity continues to be on track, as it remains focused on making commitments to new and existing companies. Further, the company is expected to witness growing demand for customized financing based on the market optimism for public equities and an improving economic environment. Nevertheless, mounting operating expenses continue to be a major concern for the company. Also, stringent regulatory restrictions are expected to hurt the company’s financials in the near term.”

Several other research firms also recently commented on HTGC. Jefferies Group raised their target price on Hercules Technology Growth Capital from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. FBR & Co raised their target price on Hercules Technology Growth Capital from $13.00 to $15.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. TheStreet upgraded Hercules Technology Growth Capital from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. Macquarie downgraded Hercules Technology Growth Capital from an “outperform” rating to a “neutral” rating and set a $13.00 target price for the company. in a research report on Monday, July 25th. Finally, JMP Securities restated a “buy” rating on shares of Hercules Technology Growth Capital in a research report on Sunday, November 6th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $14.00.

Analyst Recommendations for Hercules Technology Growth Capital (NYSE:HTGC)

Shares of Hercules Technology Growth Capital (NYSE:HTGC) traded up 0.820% during mid-day trading on Thursday, hitting $13.651. The stock had a trading volume of 108,881 shares. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 14.678 and a beta of 0.90. Hercules Technology Growth Capital has a 12-month low of $9.92 and a 12-month high of $14.00. The firm’s 50-day moving average price is $13.50 and its 200 day moving average price is $13.00.

Hercules Technology Growth Capital (NYSE:HTGC) last posted its earnings results on Thursday, November 3rd. The company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business earned $45.10 million during the quarter, compared to the consensus estimate of $44.09 million. Hercules Technology Growth Capital had a return on equity of 11.69% and a net margin of 41.18%. Hercules Technology Growth Capital’s revenue was down 4.3% on a year-over-year basis. During the same quarter last year, the company earned $0.33 EPS. Equities analysts forecast that Hercules Technology Growth Capital will post $1.24 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 21st. Investors of record on Monday, November 14th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, November 9th. This represents a $1.24 dividend on an annualized basis and a yield of 9.16%. Hercules Technology Growth Capital’s dividend payout ratio is 131.92%.

Several large investors have recently added to or reduced their stakes in HTGC. Northpointe Capital LLC boosted its stake in Hercules Technology Growth Capital by 5.2% in the second quarter. Northpointe Capital LLC now owns 1,131,126 shares of the company’s stock valued at $14,049,000 after buying an additional 56,162 shares during the period. 1st Global Advisors Inc. boosted its stake in Hercules Technology Growth Capital by 0.7% in the second quarter. 1st Global Advisors Inc. now owns 14,856 shares of the company’s stock valued at $185,000 after buying an additional 108 shares during the period. Goldman Sachs Group Inc. boosted its stake in Hercules Technology Growth Capital by 560.0% in the first quarter. Goldman Sachs Group Inc. now owns 173,064 shares of the company’s stock valued at $2,078,000 after buying an additional 146,841 shares during the period. Legal & General Group Plc boosted its stake in Hercules Technology Growth Capital by 30.8% in the first quarter. Legal & General Group Plc now owns 143,464 shares of the company’s stock valued at $1,724,000 after buying an additional 33,814 shares during the period. Finally, Advisory Services Network LLC boosted its stake in Hercules Technology Growth Capital by 25.6% in the second quarter. Advisory Services Network LLC now owns 11,013 shares of the company’s stock valued at $137,000 after buying an additional 2,245 shares during the period. 41.64% of the stock is owned by institutional investors.

About Hercules Technology Growth Capital

Hercules Capital, Inc, formerly Hercules Technology Growth Capital, Inc, is a specialty finance company. The Company is focused on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences and sustainable and renewable technology industries.

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