Hercules Capital, Inc. (NYSE:HTGC) Shares Will Pay Quarterly Dividend of $0.07

Hercules Capital, Inc. (NYSE:HTGC) announced a quarterly dividend on Monday, October 26th. Investors of record on Tuesday, November 10th will be paid a dividend of $0.07 per share by the financial services provider on Tuesday, November 17th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Tuesday, November 10th. This is a 82.5% decrease from Hercules Capital’s previous quarterly dividend of $0.40.

Hercules Capital has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 1 years. Hercules Capital has a dividend payout ratio of 80.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Hercules Capital to earn $1.99 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 80.4%.

Hercules Capital Trading Up 1.1%

Shares of Hercules Capital stock opened at $16.59 on Wednesday. The business’s fifty day simple moving average is $17.02 and its 200 day simple moving average is $16.21. Hercules Capital has a 12 month low of $13.70 and a 12 month high of $19.13.

Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, July 30th. The financial services provider reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $134.41 million during the quarter, compared to the consensus estimate of $146.71 million. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS. On average, sell-side analysts predict that Hercules Capital will post 1.95 earnings per share for the current year.

Hedge Funds Weigh In On Hercules Capital

Several large investors have recently modified their holdings of HTGC. Van ECK Associates Corp lifted its stake in shares of Hercules Capital by 22.6% during the 2nd quarter. Van ECK Associates Corp now owns 3,877,634 shares of the financial services provider’s stock valued at $61,150,000 after buying an additional 713,653 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Hercules Capital by 3.0% during the 3rd quarter. Sound Income Strategies LLC now owns 3,777,695 shares of the financial services provider’s stock valued at $62,521,000 after acquiring an additional 110,177 shares during the period. Legal & General Group Plc purchased a new stake in shares of Hercules Capital during the second quarter worth $26,523,000. Tectonic Advisors LLC boosted its holdings in shares of Hercules Capital by 9.5% in the third quarter. Tectonic Advisors LLC now owns 1,101,790 shares of the financial services provider’s stock worth $18,521,000 after acquiring an additional 95,382 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Hercules Capital by 0.6% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,025,337 shares of the financial services provider’s stock worth $15,144,000 after acquiring an additional 6,578 shares during the period. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Company Profile

Hercules Capital, Inc is a business development company and specialty finance firm that provides debt financing to innovative, growth-oriented companies. The company focuses primarily on venture capital-backed businesses in the technology, life sciences, and sustainable and specialty technology sectors.

Hercules Capital offers secured loans and other forms of growth capital designed to support companies through various stages of development, including expansion, acquisitions, recapitalizations, and initial public offerings.