First Commonwealth Financial Corp PA Purchases New Position in Trinity Capital Inc. (NASDAQ:TRIN)

First Commonwealth Financial Corp PA purchased a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,741 shares of the company's stock, valued at approximately $344,000.

Other large investors have also recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in Trinity Capital by 24.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 116,600 shares of the company's stock worth $1,687,000 after purchasing an additional 22,657 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Trinity Capital by 151.9% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 31,717 shares of the company's stock worth $459,000 after acquiring an additional 19,125 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Trinity Capital during the 4th quarter worth about $708,000. State Street Corp raised its position in shares of Trinity Capital by 3.3% during the third quarter. State Street Corp now owns 61,170 shares of the company's stock worth $861,000 after acquiring an additional 1,936 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Trinity Capital by 31.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 88,311 shares of the company's stock worth $1,261,000 after purchasing an additional 21,154 shares during the period. 24.62% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TRIN. UBS Group decreased their price target on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research note on Thursday, April 17th. Keefe, Bruyette & Woods increased their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. Finally, Wells Fargo & Company lifted their price objective on shares of Trinity Capital from $13.00 to $14.00 and gave the company an "underweight" rating in a research note on Friday, February 28th.

Trinity Capital Trading Up 1.2 %

TRIN traded up $0.17 during midday trading on Wednesday, reaching $14.47. 183,475 shares of the company's stock traded hands, compared to its average volume of 520,419. Trinity Capital Inc. has a 52 week low of $12.50 and a 52 week high of $16.82. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a fifty day moving average of $15.38 and a two-hundred day moving average of $14.76. The stock has a market capitalization of $909.16 million, a price-to-earnings ratio of 8.46 and a beta of 0.56.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $70.83 million during the quarter, compared to the consensus estimate of $64.13 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. On average, equities analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 14.10%. The ex-dividend date was Monday, March 31st. Trinity Capital's dividend payout ratio (DPR) is 99.03%.

Trinity Capital Profile

Trinity Capital Inc is a business development company. It is a venture capital firm specializing in venture debt to growth stage companies looking for loans and/or equipment financing. Trinity Capital Inc was founded in 2019 is based in Phoenix, Arizona with additional offices in the United States.