Balboa Wealth Partners Invests $528,000 in Hercules Capital, Inc. (NYSE:HTGC)

Balboa Wealth Partners purchased a new stake in Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 26,894 shares of the financial services provider's stock, valued at approximately $528,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC bought a new stake in Hercules Capital in the second quarter valued at about $31,000. Kathleen S. Wright Associates Inc. bought a new stake in shares of Hercules Capital in the 3rd quarter valued at about $31,000. Farther Finance Advisors LLC raised its position in shares of Hercules Capital by 59,650.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 2,390 shares of the financial services provider's stock valued at $47,000 after acquiring an additional 2,386 shares during the period. Strategic Financial Concepts LLC boosted its stake in Hercules Capital by 2,067.0% during the 2nd quarter. Strategic Financial Concepts LLC now owns 353,221 shares of the financial services provider's stock worth $72,000 after acquiring an additional 336,921 shares during the last quarter. Finally, Hexagon Capital Partners LLC grew its holdings in Hercules Capital by 38.8% during the second quarter. Hexagon Capital Partners LLC now owns 4,994 shares of the financial services provider's stock valued at $102,000 after purchasing an additional 1,395 shares during the period. 19.69% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Stock Down 0.7 %

Shares of NYSE:HTGC traded down $0.13 during midday trading on Friday, reaching $18.92. The company had a trading volume of 1,490,849 shares, compared to its average volume of 938,454. Hercules Capital, Inc. has a 1-year low of $15.14 and a 1-year high of $21.78. The stock has a market cap of $3.07 billion, a PE ratio of 9.37 and a beta of 1.39. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.94. The business's 50 day moving average price is $19.64 and its 200 day moving average price is $19.70.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The financial services provider reported $0.51 EPS for the quarter, meeting the consensus estimate of $0.51. The company had revenue of $125.25 million during the quarter, compared to the consensus estimate of $125.80 million. Hercules Capital had a return on equity of 17.88% and a net margin of 65.07%. During the same quarter in the prior year, the firm posted $0.52 EPS. Research analysts forecast that Hercules Capital, Inc. will post 2.02 EPS for the current fiscal year.

Hercules Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 13th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 10.15%. Hercules Capital's payout ratio is 79.21%.

Insider Activity at Hercules Capital

In other news, CEO Scott Bluestein sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the completion of the sale, the chief executive officer now owns 2,161,207 shares in the company, valued at $42,338,045.13. The trade was a 4.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HTGC. Wells Fargo & Company lifted their price objective on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, October 29th. JMP Securities raised their price objective 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. Finally, 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 research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $19.83.

Hercules Capital Profile

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.