Denali Advisors LLC Sells 7,192 Shares of Hercules Capital, Inc. $HTGC

Denali Advisors LLC lowered its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 333,853 shares of the financial services provider’s stock after selling 7,192 shares during the quarter. Denali Advisors LLC owned 0.19% of Hercules Capital worth $6,103,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. D.A. Davidson & CO. increased its stake in Hercules Capital by 3.4% in the second quarter. D.A. Davidson & CO. now owns 295,514 shares of the financial services provider’s stock valued at $5,402,000 after acquiring an additional 9,585 shares during the period. Balboa Wealth Partners grew its stake in Hercules Capital by 5.3% during the second quarter. Balboa Wealth Partners now owns 29,949 shares of the financial services provider’s stock worth $547,000 after buying an additional 1,500 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in Hercules Capital by 20.9% during the second quarter. Chicago Partners Investment Group LLC now owns 18,772 shares of the financial services provider’s stock worth $366,000 after buying an additional 3,242 shares during the last quarter. Private Trust Co. NA grew its stake in Hercules Capital by 576.2% during the second quarter. Private Trust Co. NA now owns 3,381 shares of the financial services provider’s stock worth $62,000 after buying an additional 2,881 shares during the last quarter. Finally, Bayforest Capital Ltd bought a new stake in Hercules Capital during the second quarter worth about $97,000. Institutional investors own 19.69% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on HTGC shares. Citigroup reissued an “outperform” rating on shares of Hercules Capital in a research note on Monday, August 4th. Piper Sandler decreased their price target on shares of Hercules Capital from $21.00 to $20.50 and set an “overweight” rating on the stock in a research note on Thursday, October 9th. Weiss Ratings reissued a “buy (b)” rating on shares of Hercules Capital in a research note on Wednesday, October 8th. UBS Group decreased their price target on shares of Hercules Capital from $19.00 to $18.50 and set a “neutral” rating on the stock in a research note on Tuesday, October 14th. Finally, JMP Securities increased their price target on shares of Hercules Capital from $22.00 to $24.00 and gave the company a “market outperform” rating in a research note on Monday, August 4th. Six analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.42.

Hercules Capital Stock Up 1.4%

Hercules Capital stock opened at $17.74 on Wednesday. The company has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $18.34. Hercules Capital, Inc. has a 1-year low of $15.65 and a 1-year high of $22.04. The company has a market cap of $3.22 billion, a P/E ratio of 11.75 and a beta of 0.96. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.96.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The company had revenue of $137.46 million during the quarter, compared to the consensus estimate of $129.47 million. Hercules Capital had a net margin of 51.46% and a return on equity of 16.54%. The company’s quarterly revenue was up 10.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. Research analysts anticipate that Hercules Capital, Inc. will post 1.96 earnings per share for the current fiscal year.

Hercules Capital Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 19th. Shareholders of record on Tuesday, August 12th were paid a $0.47 dividend. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, August 12th. This represents a $1.88 annualized dividend and a yield of 10.6%. Hercules Capital’s dividend payout ratio is presently 105.96%.

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.