Hercules Capital, Inc. (NYSE:HTGC) to Issue $0.48 Quarterly Dividend

Hercules Capital, Inc. (NYSE:HTGC - Get Free Report) announced a quarterly dividend on Monday, October 28th, Zacks reports. Shareholders of record on Wednesday, November 13th will be given a dividend of 0.48 per share by the financial services provider on Wednesday, November 20th. This represents a $1.92 annualized dividend and a yield of 9.60%. The ex-dividend date of this dividend is Wednesday, November 13th.

Hercules Capital has raised its dividend by an average of 14.2% annually over the last three years. Hercules Capital has a payout ratio of 78.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Equities analysts expect Hercules Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 77.7%.

Hercules Capital Stock Down 0.7 %

Hercules Capital stock traded down $0.14 during trading hours on Tuesday, hitting $20.00. 610,987 shares of the stock traded hands, compared to its average volume of 911,097. The firm's 50-day moving average price is $19.45 and its two-hundred day moving average price is $19.63. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.94. The company has a market cap of $3.24 billion, a PE ratio of 9.09 and a beta of 1.39. Hercules Capital has a one year low of $15.11 and a one year high of $21.78.

Hercules Capital (NYSE:HTGC - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The financial services provider reported $0.51 earnings per share for the quarter, meeting the consensus estimate of $0.51. Hercules Capital had a return on equity of 18.03% and a net margin of 57.82%. The business had revenue of $125.01 million for the quarter, compared to analysts' expectations of $124.99 million. During the same period in the previous year, the firm posted $0.53 EPS. On average, research analysts forecast that Hercules Capital will post 2.03 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on HTGC. JMP Securities boosted their price target on Hercules Capital from $20.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Tuesday, July 30th. Wells Fargo & Company boosted their price target on Hercules Capital from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday. Finally, Piper Sandler boosted their price target on Hercules Capital from $22.00 to $22.50 and gave the stock an "overweight" rating in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $19.83.

Insider Buying and Selling

In related news, CEO Scott Bluestein sold 100,000 shares of the business's stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $19.59, for a total value of $1,959,000.00. Following the completion of the transaction, the chief executive officer now directly owns 2,161,207 shares in the company, valued at $42,338,045.13. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Nikos Theodosopoulos bought 1,608 shares of the firm's stock in a transaction on Tuesday, August 6th. The stock was acquired at an average cost of $18.03 per share, for a total transaction of $28,992.24. Following the purchase, the director now owns 5,613 shares in the company, valued at approximately $101,202.39. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott Bluestein sold 100,000 shares of the business's stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $19.59, for a total transaction of $1,959,000.00. Following the sale, the chief executive officer now directly owns 2,161,207 shares of the company's stock, valued at approximately $42,338,045.13. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.90% of the stock is owned by company insiders.

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.