Golden State Wealth Management LLC Invests $2.32 Million in Hercules Capital, Inc. (NYSE:HTGC)

Golden State Wealth Management LLC acquired a new stake in Hercules Capital, Inc. (NYSE:HTGC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 115,658 shares of the financial services provider's stock, valued at approximately $2,324,000. Golden State Wealth Management LLC owned 0.07% of Hercules Capital at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Archer Investment Corp grew its stake in shares of Hercules Capital by 345.4% during the fourth quarter. Archer Investment Corp now owns 2,325 shares of the financial services provider's stock worth $47,000 after acquiring an additional 1,803 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in Hercules Capital by 10.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 442,767 shares of the financial services provider's stock valued at $8,895,000 after purchasing an additional 41,634 shares in the last quarter. Strategic Financial Concepts LLC raised its holdings in shares of Hercules Capital by 1,909.0% in the fourth quarter. Strategic Financial Concepts LLC now owns 327,467 shares of the financial services provider's stock worth $6,579,000 after buying an additional 311,167 shares during the last quarter. Tectonic Advisors LLC grew its holdings in shares of Hercules Capital by 14.0% during the fourth quarter. Tectonic Advisors LLC now owns 493,808 shares of the financial services provider's stock valued at $9,921,000 after buying an additional 60,776 shares during the last quarter. Finally, SteelPeak Wealth LLC increased its position in shares of Hercules Capital by 2.7% in the 4th quarter. SteelPeak Wealth LLC now owns 30,307 shares of the financial services provider's stock valued at $609,000 after acquiring an additional 804 shares during the period. 19.69% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HTGC has been the subject of a number of research reports. Keefe, Bruyette & Woods upgraded shares of Hercules Capital from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $19.50 to $21.50 in a research report on Thursday, December 12th. JMP Securities restated a "market outperform" rating and issued a $22.00 target price on shares of Hercules Capital in a research note on Monday, January 6th. Finally, Wells Fargo & Company lifted their price target on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, October 29th.

Hercules Capital Price Performance

HTGC traded up $0.24 on Tuesday, hitting $20.88. 478,691 shares of the company's stock were exchanged, compared to its average volume of 867,995. The firm has a 50-day moving average price of $20.08 and a 200-day moving average price of $19.60. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 10.34 and a beta of 1.35. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.94. Hercules Capital, Inc. has a fifty-two week low of $16.95 and a fifty-two week high of $21.78.

Hercules Capital Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, February 26th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 9.00%. Hercules Capital's payout ratio is 79.21%.

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.