Trinity Capital Inc. to Issue Quarterly Dividend of $0.51 (NASDAQ:TRIN)

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) declared a quarterly dividend on Wednesday, June 18th, Wall Street Journal reports. Stockholders of record on Monday, June 30th will be paid a dividend of 0.51 per share on Tuesday, July 15th. This represents a $2.04 annualized dividend and a dividend yield of 14.39%. The ex-dividend date is Monday, June 30th.

Trinity Capital has a payout ratio of 100.0% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Research analysts expect Trinity Capital to earn $2.11 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.7%.

Trinity Capital Price Performance

Shares of TRIN stock traded down $0.09 on Monday, hitting $14.18. The company's stock had a trading volume of 964,976 shares, compared to its average volume of 561,190. The stock has a market capitalization of $916.74 million, a price-to-earnings ratio of 6.47 and a beta of 0.55. Trinity Capital has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The firm's fifty day moving average price is $14.47 and its 200-day moving average price is $14.92.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.01). The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $67.67 million. Trinity Capital had a return on equity of 15.91% and a net margin of 50.74%. Analysts predict that Trinity Capital will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TRIN. B. Riley started coverage on Trinity Capital in a research report on Tuesday, May 13th. They set a "buy" rating and a $16.00 target price for the company. Keefe, Bruyette & Woods decreased their price objective on shares of Trinity Capital from $16.00 to $15.00 and set a "market perform" rating for the company in a report on Thursday, May 8th. Wells Fargo & Company dropped their target price on shares of Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Monday, April 28th. Finally, UBS Group cut their price objective on Trinity Capital from $18.00 to $16.50 and set a "buy" rating for the company in a research report on Thursday, April 17th.

Insider Buying and Selling at Trinity Capital

In other news, Director Richard P. Hamada sold 3,335 shares of Trinity Capital stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $14.90, for a total transaction of $49,691.50. Following the sale, the director now owns 93,735 shares of the company's stock, valued at approximately $1,396,651.50. This trade represents a 3.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Steven Brown acquired 3,513 shares of the stock in a transaction dated Friday, May 9th. The shares were purchased at an average price of $14.22 per share, for a total transaction of $49,954.86. Following the completion of the transaction, the chief executive officer now owns 55,332 shares of the company's stock, valued at $786,821.04. This trade represents a 6.78% increase in their position. The disclosure for this purchase can be found here. Insiders purchased a total of 6,213 shares of company stock valued at $89,005 in the last ninety days. Company insiders own 6.38% of the company's stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Trinity Capital stock. Goldman Sachs Group Inc. grew its holdings in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 609.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 136,672 shares of the company's stock after buying an additional 117,420 shares during the quarter. Goldman Sachs Group Inc. owned 0.21% of Trinity Capital worth $2,072,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 24.62% of the company's stock.

Trinity Capital Company 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.