IFC Holdings Incorporated FL Lowers Stake in Triangle Capital Corporation (TCAP)
IFC Holdings Incorporated FL reduced its stake in Triangle Capital Corporation (NYSE:TCAP) by 0.2% during the second quarter, according to its most recent filing with the SEC. The firm owned 21,743 shares of the credit services provider’s stock after selling 43 shares during the period. IFC Holdings Incorporated FL’s holdings in Triangle Capital Corporation were worth $382,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of TCAP. Trust Co. of Vermont bought a new position in Triangle Capital Corporation during the first quarter valued at approximately $106,000. Metropolitan Life Insurance Co. NY bought a new position in Triangle Capital Corporation during the fourth quarter valued at approximately $109,000. Sigma Planning Corp bought a new position in Triangle Capital Corporation during the second quarter valued at approximately $181,000. Wilbanks Smith & Thomas Asset Management LLC bought a new position in Triangle Capital Corporation during the first quarter valued at approximately $210,000. Finally, HL Financial Services LLC raised its position in Triangle Capital Corporation by 2.7% in the first quarter. HL Financial Services LLC now owns 11,350 shares of the credit services provider’s stock valued at $217,000 after buying an additional 300 shares in the last quarter. 32.35% of the stock is currently owned by hedge funds and other institutional investors.
Triangle Capital Corporation (TCAP) opened at 14.01 on Tuesday. The stock has a market cap of $668.91 million, a price-to-earnings ratio of 29.13 and a beta of 0.90. The firm’s 50 day moving average price is $16.78 and its 200 day moving average price is $18.18. Triangle Capital Corporation has a 12 month low of $13.45 and a 12 month high of $20.35.
Triangle Capital Corporation (NYSE:TCAP) last released its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.01. The business had revenue of $31.20 million during the quarter, compared to analyst estimates of $33.25 million. Triangle Capital Corporation had a net margin of 16.92% and a return on equity of 10.51%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 EPS. On average, equities research analysts predict that Triangle Capital Corporation will post $1.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th will be issued a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, September 1st. This represents a $1.80 dividend on an annualized basis and a dividend yield of 12.85%. Triangle Capital Corporation’s dividend payout ratio is currently 346.16%.
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Several research analysts recently commented on TCAP shares. Jefferies Group LLC reiterated a “buy” rating and issued a $18.00 price target (down previously from $23.00) on shares of Triangle Capital Corporation in a research report on Wednesday, August 9th. ValuEngine lowered Triangle Capital Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 30th. Aegis started coverage on Triangle Capital Corporation in a research report on Monday, June 26th. They issued a “buy” rating for the company. Hilliard Lyons upgraded Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, June 26th. Finally, Wunderlich started coverage on Triangle Capital Corporation in a research report on Wednesday, May 17th. They issued a “buy” rating and a $23.00 price target for the company. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $18.75.
In other news, insider C. Robert Jr. Knox sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $17.72, for a total transaction of $53,160.00. Following the completion of the sale, the insider now owns 75,716 shares in the company, valued at approximately $1,341,687.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by company insiders.
Triangle Capital Corporation Company Profile
Triangle Capital Corporation is an internally managed, non-diversified closed-end management investment company. The Company is a specialty finance company that provides customized financing to lower middle market companies located primarily in the United States. The Company’s investment objective is to seek attractive returns by generating current income from its debt investments and capital appreciation from its equity-related investments.
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