Menu Close

Busey Wealth Management Acquires Shares of 14,450 Hercules Capital, Inc. (NYSE:HTGC)

view original post

Busey Wealth Management acquired a new stake in Hercules Capital, Inc. (NYSE:HTGC) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 14,450 shares of the financial services provider’s stock, valued at approximately $240,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Taylor Frigon Capital Management LLC raised its holdings in Hercules Capital by 0.9% in the 3rd quarter. Taylor Frigon Capital Management LLC now owns 79,577 shares of the financial services provider’s stock valued at $1,322,000 after acquiring an additional 676 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Hercules Capital by 0.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 265,537 shares of the financial services provider’s stock worth $4,529,000 after buying an additional 746 shares in the last quarter. NEXT Financial Group Inc raised its holdings in shares of Hercules Capital by 169.9% during the 3rd quarter. NEXT Financial Group Inc now owns 1,668 shares of the financial services provider’s stock worth $28,000 after buying an additional 1,050 shares in the last quarter. Confluence Investment Management LLC raised its holdings in shares of Hercules Capital by 0.4% during the 3rd quarter. Confluence Investment Management LLC now owns 410,429 shares of the financial services provider’s stock worth $6,817,000 after buying an additional 1,719 shares in the last quarter. Finally, Lake Point Wealth Management acquired a new position in shares of Hercules Capital during the 2nd quarter worth $30,000. 26.91% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on the company. Compass Point reissued a “buy” rating and set a $18.50 price target on shares of Hercules Capital in a report on Monday, November 1st. Wedbush reissued an “outperform” rating and set a $18.75 price target on shares of Hercules Capital in a report on Monday, November 1st. Oppenheimer reissued an “outperform” rating and set a $18.00 price target on shares of Hercules Capital in a report on Monday, November 1st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $19.00 price target on shares of Hercules Capital in a report on Monday, November 1st. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $18.11.

Shares of HTGC stock opened at $16.16 on Tuesday. The firm has a market capitalization of $1.87 billion, a P/E ratio of 5.96, a P/E/G ratio of 0.50 and a beta of 1.52. Hercules Capital, Inc. has a twelve month low of $13.96 and a twelve month high of $18.20. The company has a quick ratio of 7.20, a current ratio of 7.20 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $17.03 and its 200 day simple moving average is $17.04.

Hercules Capital (NYSE:HTGC) last issued its quarterly earnings data on Thursday, October 28th. The financial services provider reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.01. The business had revenue of $70.19 million for the quarter, compared to analyst estimates of $71.13 million. Hercules Capital had a return on equity of 11.45% and a net margin of 113.31%. Hercules Capital’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, equities research analysts expect that Hercules Capital, Inc. will post 1.28 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 17th. Shareholders of record on Wednesday, November 10th were given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 8.17%. The ex-dividend date of this dividend was Tuesday, November 9th. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.32. Hercules Capital’s payout ratio is 48.71%.

Hercules Capital Profile

Hercules is the largest non-bank lender to venture capital-backed companies at all stages of development in a broadly diversified variety of technology, life sciences, and sustainable and renewable technology industries. With over a decade of experience in venture debt, Hercules is uniquely positioned to quickly create innovative financing solutions that perfectly fit within a company’s existing capital structure and map to its business objectives.

Featured Article: How Buying a Call Option Works

Want to see what other hedge funds are holding HTGC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hercules Capital, Inc. (NYSE:HTGC).

Want More Great Investing Ideas?