Bank of New York Mellon Corp Increases Stock Position in Hercules Capital, Inc. (NYSE:HTGC)

Bank of New York Mellon Corp lifted its position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) by 67.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,380 shares of the financial services provider's stock after buying an additional 33,191 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.05% of Hercules Capital worth $1,655,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Hercules Capital by 511.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 53,068 shares of the financial services provider's stock worth $1,042,000 after acquiring an additional 44,386 shares during the period. Franklin Resources Inc. grew its position in shares of Hercules Capital by 28.0% in the third quarter. Franklin Resources Inc. now owns 387,225 shares of the financial services provider's stock valued at $7,667,000 after purchasing an additional 84,780 shares during the period. Tectonic Advisors LLC increased its stake in Hercules Capital by 14.0% in the fourth quarter. Tectonic Advisors LLC now owns 493,808 shares of the financial services provider's stock valued at $9,921,000 after purchasing an additional 60,776 shares during the last quarter. Sanctuary Advisors LLC lifted its position in Hercules Capital by 56.5% during the third quarter. Sanctuary Advisors LLC now owns 18,818 shares of the financial services provider's stock worth $353,000 after buying an additional 6,792 shares during the period. Finally, Kovitz Investment Group Partners LLC boosted its stake in Hercules Capital by 187.3% in the 3rd quarter. Kovitz Investment Group Partners LLC now owns 57,466 shares of the financial services provider's stock worth $1,129,000 after buying an additional 37,466 shares during the last quarter. Institutional investors and hedge funds own 19.69% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HTGC shares. Compass Point upped their price objective on shares of Hercules Capital from $18.25 to $20.00 and gave the company a "neutral" rating in a research note on Wednesday, February 19th. JMP Securities reaffirmed a "market outperform" rating and set a $22.00 price target on shares of Hercules Capital in a research note on Friday, February 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Hercules Capital from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $19.50 to $21.50 in a report on Thursday, December 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hercules Capital presently has an average rating of "Moderate Buy" and a consensus target price of $21.40.

Hercules Capital Trading Up 0.8 %

HTGC traded up $0.15 on Tuesday, reaching $19.47. 870,935 shares of the company's stock were exchanged, compared to its average volume of 999,747. Hercules Capital, Inc. has a twelve month low of $16.95 and a twelve month high of $22.04. The company's 50 day moving average is $20.31 and its 200-day moving average is $19.81. The company has a debt-to-equity ratio of 0.89, a quick ratio of 2.72 and a current ratio of 2.72. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 12.09 and a beta of 1.38.

Hercules Capital (NYSE:HTGC - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49. The company had revenue of $121.78 million during the quarter, compared to analyst estimates of $124.09 million. Hercules Capital had a net margin of 53.28% and a return on equity of 17.19%. Equities analysts predict that Hercules Capital, Inc. will post 1.96 earnings per share for the current year.

Hercules Capital Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Wednesday, February 26th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 9.66%. The ex-dividend date was Wednesday, February 26th. Hercules Capital's payout ratio is 99.38%.

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.