Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High - Here's What Happened

Key Points

• Trinity Capital shares hit a new 52-week high, trading as high as $18.08 after closing at $17.69 the prior day. Volume was about 251,843 shares.
• Analyst sentiment remains mixed but generally positive, with a consensus “Moderate Buy” and a consensus price target of $16.64. Recent updates included higher targets from Keefe, Bruyette & Woods and Wells Fargo, while one analyst upgraded the stock from sell to hold.
• The company recently beat EPS expectations by reporting $0.53 per share, though revenue came in below forecasts. Trinity Capital also announced a monthly dividend of $0.17 per share, implying an annualized yield of 11.3%.

Shares of Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $18.08 and last traded at $18.0850, with a volume of 251843 shares. The stock had previously closed at $17.69.

Analysts Set New Price Targets

TRIN has been the subject of a number of analyst reports. Keefe, Bruyette & Woods boosted their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Trinity Capital from a "sell" rating to a "hold" rating in a research note on Sunday, March 29th. Finally, Wells Fargo & Company lifted their price target on Trinity Capital from $13.50 to $15.00 and gave the company an "underweight" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $16.64.

Trinity Capital Price Performance

The business has a fifty day moving average of $17.14 and a 200-day moving average of $16.11. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 9.54 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating 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 company had revenue of $51.37 million for the quarter, compared to analysts' expectations of $85.87 million. As a group, research analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Thursday, September 10th will be issued a $0.17 dividend. The ex-dividend date is Thursday, September 10th. This represents a c) dividend on an annualized basis and a dividend yield of 11.3%. Trinity Capital's dividend payout ratio is presently 107.94%.

Institutional Trading of Trinity Capital

Institutional investors have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. acquired a new position in Trinity Capital in the 4th quarter worth about $25,000. Flagship Harbor Advisors LLC bought a new stake in shares of Trinity Capital in the 4th quarter valued at approximately $27,000. Sunbelt Securities Inc. bought a new stake in shares of Trinity Capital in the 1st quarter valued at approximately $37,000. Fifth Third Bancorp acquired a new position in Trinity Capital in the first quarter worth approximately $37,000. Finally, JPMorgan Chase & Co. acquired a new position in Trinity Capital in the second quarter worth approximately $54,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Company Profile

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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