Trinity Capital (NASDAQ:TRIN) Sets New 52-Week High – Here’s What Happened

Trinity Capital Inc. (NASDAQ:TRIN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $18.59 and last traded at $18.5360, with a volume of 258575 shares traded. The stock had previously closed at $18.35.

Analysts Set New Price Targets

Several analysts recently weighed in on TRIN shares. Wells Fargo & Company raised their target price on shares of Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $16.00 to $16.50 and gave the company a “market perform” rating in a research report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $16.67.

Trinity Capital Trading Up 0.5%

The company has a market capitalization of $1.77 billion, a PE ratio of 9.90 and a beta of 0.61. The stock has a fifty day simple moving average of $17.68 and a 200-day simple moving average of $16.46.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, August 5th. The company reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The business had revenue of $87.17 million during the quarter, compared to analysts’ expectations of $91.44 million. As a group, equities research analysts predict that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. This represents a c) annualized dividend and a yield of 10.9%. The ex-dividend date is Thursday, September 10th. Trinity Capital’s dividend payout ratio is currently 116.57%.

Insider Activity

In related news, CEO Kyle Steven Brown bought 2,296 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The shares were purchased at an average cost of $18.04 per share, with a total value of $41,419.84. Following the transaction, the chief executive officer directly owned 612,262 shares of the company’s stock, valued at approximately $11,045,206.48. This represents a 0.38% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.25% of the company’s stock.

Institutional Trading of Trinity Capital

Institutional investors and hedge funds have recently made changes to their positions in the company. Trust Co. of Vermont acquired a new position in Trinity Capital during the second quarter worth approximately $25,000. Nomura Asset Management Co. Ltd. purchased a new position in Trinity Capital during the 4th quarter worth $25,000. Burk Holdings LLC acquired a new position in Trinity Capital in the second quarter valued at $32,000. Sunbelt Securities Inc. acquired a new position in Trinity Capital in the first quarter valued at $37,000. Finally, Fifth Third Bancorp purchased a new stake in shares of Trinity Capital in the first quarter valued at about $37,000. 24.62% of the stock is owned by hedge funds and other institutional investors.

Trinity Capital Company Profile

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.