Hennion & Walsh Asset Management Inc. Raises Position in Trinity Capital Inc. $TRIN

Hennion & Walsh Asset Management Inc. lifted its stake in Trinity Capital Inc. (NASDAQ:TRIN) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 317,155 shares of the company’s stock after purchasing an additional 48,436 shares during the quarter. Hennion & Walsh Asset Management Inc. owned about 0.42% of Trinity Capital worth $4,646,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. MCF Advisors LLC purchased a new stake in Trinity Capital during the 3rd quarter valued at $52,000. JPMorgan Chase & Co. bought a new stake in Trinity Capital in the second quarter worth $54,000. BNP Paribas Financial Markets boosted its stake in Trinity Capital by 8,783.8% during the third quarter. BNP Paribas Financial Markets now owns 6,041 shares of the company’s stock worth $94,000 after buying an additional 5,973 shares during the period. Triumph Capital Management bought a new position in Trinity Capital during the third quarter valued at $102,000. Finally, Boothbay Fund Management LLC bought a new position in Trinity Capital during the second quarter valued at $142,000. Institutional investors own 24.62% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Noble Financial assumed coverage on shares of Trinity Capital in a report on Thursday, December 11th. They issued a “buy” rating for the company. Citigroup reiterated an “outperform” rating on shares of Trinity Capital in a report on Tuesday, January 27th. Clear Str raised shares of Trinity Capital to a “strong-buy” rating in a research report on Wednesday, February 4th. Capital One Financial set a $17.00 price objective on shares of Trinity Capital in a research note on Thursday, December 11th. Finally, Loop Capital set a $17.00 target price on Trinity Capital in a research report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Trinity Capital has an average rating of “Moderate Buy” and a consensus target price of $16.29.

Trinity Capital Stock Performance

Shares of NASDAQ TRIN opened at $14.37 on Tuesday. Trinity Capital Inc. has a 52-week low of $12.50 and a 52-week high of $17.20. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 7.33 and a beta of 0.56. The stock has a 50 day moving average price of $15.40 and a 200 day moving average price of $15.25.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, February 25th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.51 by $0.01. Trinity Capital had a return on equity of 14.97% and a net margin of 46.18%.The company had revenue of $58.89 million for the quarter, compared to the consensus estimate of $79.83 million. Analysts forecast that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Thursday, June 11th will be paid a dividend of $0.17 per share. The ex-dividend date is Thursday, June 11th. This represents a c) annualized dividend and a dividend yield of 14.2%. Trinity Capital’s dividend payout ratio (DPR) is currently 104.08%.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,532 shares of Trinity Capital stock in a transaction dated Monday, March 16th. The stock was acquired at an average price of $14.16 per share, for a total transaction of $50,013.12. Following the acquisition, the chief executive officer owned 620,709 shares in the company, valued at $8,789,239.44. This trade represents a 0.57% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Steve Louis Brown purchased 27,109 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $14.75 per share, with a total value of $399,857.75. Following the transaction, the chairman directly owned 940,745 shares in the company, valued at approximately $13,875,988.75. This trade represents a 2.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 37,682 shares of company stock valued at $553,902 over the last 90 days. 6.38% of the stock is currently owned by corporate insiders.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.