Trinity Capital (NASDAQ:TRIN) Sets New 12-Month High – Here’s Why

Shares of Trinity Capital Inc. (NASDAQ:TRIN) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $18.08 and last traded at $18.0850, with a volume of 251843 shares trading hands. The stock had previously closed at $17.69.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRIN. Keefe, Bruyette & Woods increased their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. Wells Fargo & Company boosted their price target on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $16.64.

Trinity Capital Stock Down 1.9%

The business’s fifty day moving average is $17.17 and its 200-day moving average is $16.16. The stock has a market capitalization of $1.58 billion, a PE ratio of 9.31 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN) last issued its quarterly earnings results on Wednesday, May 6th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $51.37 million during the quarter, compared to analyst estimates of $85.87 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. As a group, sell-side analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a dividend of $0.17 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.6%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s dividend payout ratio is presently 107.94%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Exeter Financial LLC boosted its position in Trinity Capital by 6.6% during the 1st quarter. Exeter Financial LLC now owns 11,589 shares of the company’s stock worth $170,000 after purchasing an additional 717 shares during the period. Osaic Holdings Inc. raised its position in Trinity Capital by 1.1% in the fourth quarter. Osaic Holdings Inc. now owns 66,888 shares of the company’s stock valued at $980,000 after purchasing an additional 754 shares during the period. First Commonwealth Financial Corp PA raised its position in Trinity Capital by 3.4% in the fourth quarter. First Commonwealth Financial Corp PA now owns 24,540 shares of the company’s stock valued at $360,000 after purchasing an additional 799 shares during the period. Values First Advisors Inc. lifted its stake in shares of Trinity Capital by 6.0% during the first quarter. Values First Advisors Inc. now owns 18,441 shares of the company’s stock worth $271,000 after purchasing an additional 1,047 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Trinity Capital by 6.6% during the first quarter. Geneos Wealth Management Inc. now owns 17,312 shares of the company’s stock worth $255,000 after purchasing an additional 1,079 shares in the last quarter. 24.62% of the stock is owned by hedge funds and other institutional investors.

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.