Wells Fargo & Company Boosts Hercules Capital (NYSE:HTGC) Price Target to $22.00

Hercules Capital (NYSE:HTGC) had its target price lifted by Wells Fargo & Company from $20.00 to $22.00 in a report published on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on the company. Piper Sandler boosted their target price on Hercules Capital from $21.50 to $22.00 and gave the stock an overweight rating in a research report on Wednesday, July 10th. JMP Securities boosted their target price on Hercules Capital from $19.00 to $20.00 and gave the stock a market outperform rating in a research report on Friday, May 3rd. Finally, Keefe, Bruyette & Woods boosted their target price on Hercules Capital from $18.00 to $19.00 and gave the stock a market perform rating in a research report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $18.88.

Hercules Capital Stock Performance

Shares of HTGC opened at $21.31 on Friday. The company has a market cap of $3.46 billion, a PE ratio of 9.69 and a beta of 1.39. The company has a current ratio of 2.47, a quick ratio of 2.47 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average price of $20.32 and a 200-day moving average price of $18.98. Hercules Capital has a 12-month low of $15.02 and a 12-month high of $21.61.

Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The company had revenue of $121.55 million during the quarter, compared to the consensus estimate of $121.86 million. Hercules Capital had a return on equity of 18.35% and a net margin of 69.98%. Hercules Capital’s quarterly revenue was up 15.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. As a group, equities analysts forecast that Hercules Capital will post 2.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Robert P. Badavas sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total transaction of $261,877.00. Following the completion of the transaction, the director now owns 4,234 shares in the company, valued at $83,367.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Robert P. Badavas sold 13,300 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $19.69, for a total transaction of $261,877.00. Following the completion of the transaction, the director now owns 4,234 shares in the company, valued at $83,367.46. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Robert P. Badavas sold 1,700 shares of the company’s stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $19.60, for a total value of $33,320.00. Following the transaction, the director now owns 4,234 shares of the company’s stock, valued at approximately $82,986.40. The disclosure for this sale can be found here. Insiders own 1.90% of the company’s stock.

Hedge Funds Weigh In On Hercules Capital

A number of institutional investors have recently added to or reduced their stakes in HTGC. Mutual Advisors LLC bought a new position in Hercules Capital in the fourth quarter worth $244,000. HB Wealth Management LLC bought a new position in Hercules Capital in the fourth quarter worth $189,000. Raymond James Financial Services Advisors Inc. raised its holdings in Hercules Capital by 51.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 71,029 shares of the financial services provider’s stock worth $1,184,000 after purchasing an additional 24,221 shares in the last quarter. Blue Trust Inc. bought a new position in Hercules Capital in the fourth quarter worth $66,000. Finally, Global Retirement Partners LLC raised its holdings in Hercules Capital by 294.2% in the fourth quarter. Global Retirement Partners LLC now owns 4,785 shares of the financial services provider’s stock worth $81,000 after purchasing an additional 3,571 shares in the last quarter. Institutional investors own 19.69% of the company’s stock.

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.