Wells Fargo & Company Cuts Trinity Capital (NASDAQ:TRIN) Price Target to $13.00

Trinity Capital (NASDAQ:TRIN - Free Report) had its price objective lowered by Wells Fargo & Company from $14.00 to $13.00 in a report published on Monday,Benzinga reports. The brokerage currently has an underweight rating on the stock.

A number of other research firms have also issued reports on TRIN. Keefe, Bruyette & Woods raised their target price on Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a report on Thursday, February 27th. UBS Group lowered their price objective on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a research note on Thursday, April 17th.

Trinity Capital Stock Up 0.7 %

Shares of NASDAQ TRIN traded up $0.10 during mid-day trading on Monday, reaching $14.33. The company had a trading volume of 503,577 shares, compared to its average volume of 521,348. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. Trinity Capital has a twelve month low of $12.50 and a twelve month high of $16.82. The stock's 50 day moving average is $15.16 and its 200-day moving average is $14.79. The stock has a market capitalization of $900.37 million, a PE ratio of 8.38 and a beta of 0.56.

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

Trinity Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.51 per share. The ex-dividend date was Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a yield of 14.24%. Trinity Capital's dividend payout ratio (DPR) is presently 99.03%.

Institutional Trading of Trinity Capital

Several hedge funds have recently modified their holdings of the stock. Farther Finance Advisors LLC acquired a new position in Trinity Capital during the 1st quarter valued at about $38,000. McIlrath & Eck LLC bought a new stake in shares of Trinity Capital during the third quarter worth approximately $57,000. Trust Co. of Vermont acquired a new position in Trinity Capital in the fourth quarter valued at approximately $101,000. Aquatic Capital Management LLC acquired a new position in Trinity Capital in the fourth quarter valued at approximately $124,000. Finally, Blue Trust Inc. boosted its stake in Trinity Capital by 27.2% in the fourth quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock valued at $133,000 after acquiring an additional 2,100 shares during the last quarter. 24.62% of the stock is owned by institutional investors.

About Trinity Capital

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.