Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 163,302 Hercules Capital, Inc. (NYSE:HTGC)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Hercules Capital, Inc. (NYSE:HTGC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 163,302 shares of the financial services provider's stock, valued at approximately $3,281,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.10% of Hercules Capital at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HTGC. Van ECK Associates Corp raised its holdings in Hercules Capital by 10.4% during the 4th quarter. Van ECK Associates Corp now owns 3,438,447 shares of the financial services provider's stock valued at $69,078,000 after buying an additional 323,028 shares during the period. Strategic Financial Concepts LLC raised its holdings in Hercules Capital by 1,909.0% during the 4th quarter. Strategic Financial Concepts LLC now owns 327,467 shares of the financial services provider's stock valued at $6,579,000 after buying an additional 311,167 shares during the period. Golden State Wealth Management LLC purchased a new stake in Hercules Capital during the 4th quarter valued at $2,324,000. Franklin Resources Inc. increased its stake in Hercules Capital by 28.0% in the third quarter. Franklin Resources Inc. now owns 387,225 shares of the financial services provider's stock worth $7,667,000 after purchasing an additional 84,780 shares during the period. Finally, Sound Income Strategies LLC increased its stake in Hercules Capital by 2.8% in the fourth quarter. Sound Income Strategies LLC now owns 2,815,214 shares of the financial services provider's stock worth $56,558,000 after purchasing an additional 77,869 shares during the period. 19.69% of the stock is owned by hedge funds and other institutional investors.

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Hercules Capital Stock Up 0.7 %

Shares of HTGC traded up $0.13 during midday trading on Friday, reaching $19.26. 1,158,454 shares of the stock were exchanged, compared to its average volume of 1,231,162. Hercules Capital, Inc. has a 52 week low of $16.95 and a 52 week high of $22.04. The company has a current ratio of 2.72, a quick ratio of 2.72 and a debt-to-equity ratio of 0.89. The company's 50 day moving average is $20.34 and its two-hundred day moving average is $19.79. The company has a market capitalization of $3.33 billion, a P/E ratio of 11.96 and a beta of 1.38.

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

Hercules Capital Cuts Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 9.76%. The ex-dividend date was Wednesday, February 26th. Hercules Capital's payout ratio is currently 99.38%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Compass Point increased their target price on Hercules Capital from $18.25 to $20.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 19th. Keefe, Bruyette & Woods upgraded Hercules Capital from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $19.50 to $21.50 in a research note on Thursday, December 12th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $22.00 target price on shares of Hercules Capital in a research note on Friday, February 14th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $21.40.

Hercules Capital Company 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.