Corient Private Wealth LP bought a new stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 150,793 shares of the company's stock, valued at approximately $2,698,000. Corient Private Wealth LP owned approximately 0.16% of Trinity Capital as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of TRIN. Nomura Asset Management Co. Ltd. purchased a new position in shares of Trinity Capital during the fourth quarter valued at $25,000. Trust Co. of Vermont purchased a new stake in Trinity Capital in the 2nd quarter worth about $25,000. Burk Holdings LLC acquired a new stake in Trinity Capital during the 2nd quarter worth about $32,000. Sunbelt Securities Inc. acquired a new stake in Trinity Capital during the 1st quarter worth about $37,000. Finally, Fifth Third Bancorp purchased a new position in Trinity Capital during the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 24.62% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on TRIN. Wells Fargo & Company increased their price target on shares of Trinity Capital from $13.50 to $15.00 and gave the stock an "underweight" rating in a research report on Thursday, May 7th. Keefe, Bruyette & Woods boosted 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 equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Trinity Capital presently has a consensus rating of "Moderate Buy" and a consensus target price of $16.67.
Read Our Latest Stock Report on Trinity Capital
Insider Transactions at Trinity Capital
In other Trinity Capital news, CEO Kyle Steven Brown bought 2,296 shares of Trinity Capital stock in a transaction on Friday, August 7th. The stock was purchased at an average cost of $18.04 per share, for a total transaction of $41,419.84. Following the completion of the purchase, the chief executive officer directly owned 612,262 shares of the company's stock, valued at $11,045,206.48. The trade was a 0.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.25% of the stock is owned by company insiders.
Trinity Capital Trading Down 1.8%
TRIN opened at $18.28 on Wednesday. The stock has a market cap of $1.73 billion, a price-to-earnings ratio of 9.67 and a beta of 0.61. Trinity Capital Inc. has a 1 year low of $14.13 and a 1 year high of $18.90. The stock has a fifty day moving average price of $17.86 and a 200 day moving average price of $16.54.
Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.01). Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The firm had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. As a group, sell-side analysts forecast that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.
Trinity Capital Dividend Announcement
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Thursday, September 10th will be given a dividend of $0.17 per share. This represents a c) annualized dividend and a yield of 11.2%. The ex-dividend date of this dividend is Thursday, September 10th. Trinity Capital's dividend payout ratio (DPR) is presently 116.57%.
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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