Stifel Financial Corp Acquires 25,055 Shares of Triangle Capital Corporation (TCAP)
Stifel Financial Corp boosted its holdings in Triangle Capital Corporation (NYSE:TCAP) by 13.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 215,898 shares of the credit services provider’s stock after purchasing an additional 25,055 shares during the quarter. Stifel Financial Corp owned about 0.45% of Triangle Capital Corporation worth $3,809,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in TCAP. Sigma Planning Corp purchased a new stake in Triangle Capital Corporation in the second quarter worth about $181,000. Trust Co. of Vermont grew its holdings in Triangle Capital Corporation by 139.9% in the second quarter. Trust Co. of Vermont now owns 13,342 shares of the credit services provider’s stock worth $235,000 after purchasing an additional 7,781 shares during the period. Bard Associates Inc. purchased a new stake in Triangle Capital Corporation in the second quarter worth about $282,000. Ramsey Quantitative Systems purchased a new stake in Triangle Capital Corporation in the second quarter worth about $282,000. Finally, Parallax Volatility Advisers L.P. grew its holdings in Triangle Capital Corporation by 149.4% in the second quarter. Parallax Volatility Advisers L.P. now owns 17,194 shares of the credit services provider’s stock worth $303,000 after purchasing an additional 52,024 shares during the period. Institutional investors and hedge funds own 31.36% of the company’s stock.
Shares of Triangle Capital Corporation (NYSE:TCAP) opened at 13.85 on Wednesday. Triangle Capital Corporation has a 12-month low of $12.84 and a 12-month high of $20.35. The stock has a market cap of $661.27 million, a PE ratio of 28.79 and a beta of 0.92. The stock’s 50 day moving average is $13.76 and its 200-day moving average is $16.58.
Triangle Capital Corporation (NYSE:TCAP) last issued its quarterly earnings data on Wednesday, August 2nd. The credit services provider reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Triangle Capital Corporation had a return on equity of 10.51% and a net margin of 16.92%. The firm had revenue of $31.20 million during the quarter, compared to analysts’ expectations of $33.25 million. During the same period in the previous year, the firm earned $0.49 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Triangle Capital Corporation will post $1.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 20th. Stockholders of record on Wednesday, September 6th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 13.00%. The ex-dividend date of this dividend was Friday, September 1st. Triangle Capital Corporation’s payout ratio is currently 346.16%.
A number of equities research analysts have weighed in on TCAP shares. Hilliard Lyons upgraded shares of Triangle Capital Corporation from a “neutral” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Monday, June 26th. Aegis started coverage on shares of Triangle Capital Corporation in a report on Monday, June 26th. They issued a “buy” rating on the stock. ValuEngine cut shares of Triangle Capital Corporation from a “buy” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research cut shares of Triangle Capital Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, BidaskClub cut shares of Triangle Capital Corporation from a “hold” rating to a “sell” rating in a report on Sunday, July 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $18.36.
About Triangle Capital Corporation
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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