Trinity Capital Inc. (NASDAQ:TRIN) Stock Has Consensus Price Target of $16.60

Shares of Trinity Capital Inc. (NASDAQ:TRIN) have received an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $16.60.

Separately, Keefe, Bruyette & Woods raised their price objective on Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th.

Insider Activity

In other news, CEO Kyle Brown bought 2,296 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was acquired at an average cost of $18.04 per share, with a total value of $41,419.84. Following the completion of the acquisition, the chief executive officer owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. This represents a 0.38% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.25% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trinity Capital

Several institutional investors and hedge funds have recently made changes to their positions in TRIN. Bank of America Corp DE increased its holdings in shares of Trinity Capital by 57.7% in the 1st quarter. Bank of America Corp DE now owns 190,166 shares of the company’s stock worth $2,797,000 after purchasing an additional 69,586 shares in the last quarter. BlackRock Inc. bought a new position in shares of Trinity Capital during the second quarter valued at $5,134,000. Van ECK Associates Corp lifted its holdings in shares of Trinity Capital by 39.3% during the second quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock valued at $38,525,000 after purchasing an additional 607,988 shares in the last quarter. Melia Wealth LLC bought a new position in shares of Trinity Capital during the second quarter valued at $24,221,000. Finally, Sound Income Strategies LLC boosted its position in shares of Trinity Capital by 9.4% during the second quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock valued at $22,716,000 after buying an additional 109,291 shares during the last quarter. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Trading Up 1.7%

Shares of Trinity Capital stock opened at $17.07 on Thursday. The firm has a market capitalization of $1.62 billion, a PE ratio of 9.03 and a beta of 0.63. The business’s 50-day moving average price is $17.55 and its 200-day moving average price is $16.68. Trinity Capital has a 12 month low of $14.13 and a 12 month high of $18.90.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $87.17 million for the quarter, compared to analysts’ expectations of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. As a group, analysts predict that Trinity Capital will post 2.10 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 11th. This represents a $2.04 annualized dividend and a dividend yield of 11.9%. Trinity Capital’s dividend payout ratio (DPR) is presently 116.57%.

Trinity Capital Company Profile

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.