BlackRock Inc. bought a new position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 286,951 shares of the company's stock, valued at approximately $5,134,000. BlackRock Inc. owned approximately 0.32% of Trinity Capital as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of the stock. Trust Co. of Vermont bought a new stake in Trinity Capital during the second quarter worth about $25,000. Nomura Asset Management Co. Ltd. acquired a new stake in Trinity Capital during the fourth quarter worth about $25,000. Sunbelt Securities Inc. bought a new position in Trinity Capital in the 1st quarter valued at about $37,000. Fifth Third Bancorp bought a new position in Trinity Capital in the 1st quarter valued at about $37,000. Finally, JPMorgan Chase & Co. bought a new position in Trinity Capital in the 2nd quarter valued at about $54,000. Institutional investors own 24.62% of the company's stock.
Insider Activity
In other news, CEO Kyle Brown purchased 2,296 shares of the company's stock in a transaction dated Friday, August 7th. The stock was bought at an average cost of $18.04 per share, for a total transaction of $41,419.84. Following the purchase, the chief executive officer owned 612,262 shares of the company's stock, valued at approximately $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.25% of the company's stock.
Trinity Capital Stock Performance
Trinity Capital stock opened at $18.23 on Friday. Trinity Capital Inc. has a 52 week low of $14.13 and a 52 week high of $18.90. The stock has a market capitalization of $1.73 billion, a P/E ratio of 9.65 and a beta of 0.61. The stock has a fifty day moving average of $17.94 and a 200-day moving average of $16.60.
Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The business had revenue of $87.17 million during the quarter, compared to the consensus estimate of $91.44 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. On average, research analysts forecast that Trinity Capital Inc. will post 2.1 earnings per share for the current year.
Trinity Capital Announces Dividend
The business also recently declared 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. The ex-dividend date is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 11.2%. Trinity Capital's dividend payout ratio is 116.57%.
Wall Street Analyst Weigh In
Separately, Keefe, Bruyette & Woods upped their price target on shares of Trinity Capital from $16.00 to $16.50 and gave the stock a "market perform" rating in a 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 issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $16.67.
Check Out Our Latest Stock Report on TRIN
Trinity Capital Profile
(
Free Report)
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.
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