Trinity Capital (NASDAQ:TRIN) Sees Unusually-High Trading Volume Following Dividend Announcement

Key Points

• Trinity Capital announced a dividend of $0.51 per share to be paid on October 15th, leading to a 291% increase in trading volume, with around 2.5 million shares traded on Thursday.
• The company has a strong annualized dividend yield of 12.5% and a payout ratio of 91.48%.
• Trinity Capital is currently rated as a "Hold" by analysts, with two "Buy" ratings and a consensus target price of $15.75.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report) saw unusually-high trading volume on Thursday after the company announced a dividend. Approximately 2,499,734 shares changed hands during trading, an increase of 291% from the previous session's volume of 638,840 shares.The stock last traded at $16.18 and had previously closed at $16.09.

The newly announced dividend which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be given a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a yield of 12.4%. The ex-dividend date is Tuesday, September 30th. Trinity Capital's dividend payout ratio is currently 91.48%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on TRIN shares. UBS Group raised their price target on shares of Trinity Capital from $17.00 to $17.50 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Wells Fargo & Company restated an "underweight" rating and set a $13.50 target price (up previously from $13.00) on shares of Trinity Capital in a research note on Tuesday, August 12th. Finally, B. Riley lifted their target price on Trinity Capital from $16.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $15.75.

Trinity Capital Trading Up 1.2%

The stock has a market cap of $1.16 billion, a price-to-earnings ratio of 7.39 and a beta of 0.54. The stock's 50-day simple moving average is $15.64 and its 200-day simple moving average is $15.02.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. The business had revenue of $69.48 million during the quarter, compared to analysts' expectations of $68.84 million. On average, equities research analysts forecast that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Insider Buying and Selling

In other Trinity Capital news, CEO Kyle Steven Brown bought 3,200 shares of the business's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $15.78 per share, for a total transaction of $50,496.00. Following the completion of the transaction, the chief executive officer owned 1,006,300 shares of the company's stock, valued at $15,879,414. This represents a 0.32% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald E. Estes bought 2,000 shares of the stock in a transaction dated Thursday, September 11th. The stock was bought at an average cost of $16.07 per share, for a total transaction of $32,140.00. Following the acquisition, the director directly owned 35,779 shares of the company's stock, valued at approximately $574,968.53. This represents a 5.92% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 7,200 shares of company stock worth $114,856. 5.31% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Melia Wealth LLC increased its position in shares of Trinity Capital by 4.1% during the 2nd quarter. Melia Wealth LLC now owns 1,148,936 shares of the company's stock worth $16,166,000 after purchasing an additional 44,987 shares during the last quarter. Rockefeller Capital Management L.P. grew its holdings in Trinity Capital by 1.9% in the second quarter. Rockefeller Capital Management L.P. now owns 895,784 shares of the company's stock valued at $12,604,000 after purchasing an additional 16,646 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Trinity Capital by 2.7% during the second quarter. Invesco Ltd. now owns 838,194 shares of the company's stock valued at $11,793,000 after acquiring an additional 21,729 shares during the last quarter. Emerald Advisers LLC lifted its position in Trinity Capital by 3.9% during the second quarter. Emerald Advisers LLC now owns 829,710 shares of the company's stock worth $11,674,000 after buying an additional 30,949 shares during the period. Finally, Round Rock Advisors LLC raised its holdings in shares of Trinity Capital by 178.2% during the 1st quarter. Round Rock Advisors LLC now owns 532,931 shares of the company's stock valued at $8,079,000 after buying an additional 341,343 shares during the period. Hedge funds and other institutional investors own 24.62% of the company's stock.

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.