Trinity Capital (NASDAQ:TRIN) Sets New 1-Year High - What's Next?

Key Points

• Trinity Capital shares reached a new 52-week high, trading as high as $18.13 and up 2.1%, above the 50-day and 200-day moving averages.
• Analysts raised some price targets, but the consensus target remains $16.64—below the current share price—with an overall “Moderate Buy” rating.
• The company reported quarterly EPS of $0.53, beating estimates by $0.01, and announced a $0.17 monthly dividend, representing an 11.2% yield.

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $18.13 and last traded at $18.1050, with a volume of 234633 shares traded. The stock had previously closed at $17.83.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods boosted their target price on Trinity Capital from $15.00 to $16.00 and gave the stock a "market perform" rating in a research report on Thursday, May 7th. Wells Fargo & Company raised 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 analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Trinity Capital has an average rating of "Moderate Buy" and an average target price of $16.64.

Trinity Capital Trading Up 2.1%

The business's fifty day simple moving average is $17.29 and its 200 day simple moving average is $16.27. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 9.62 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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $85.87 million. As a group, research analysts anticipate that Trinity Capital Inc. will post 2.1 earnings per share for the current year.

Trinity Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) annualized dividend and a yield of 11.2%. Trinity Capital's dividend payout ratio is presently 107.94%.

Hedge Funds Weigh In On Trinity Capital

Several institutional investors have recently modified their holdings of TRIN. Nomura Asset Management Co. Ltd. acquired a new stake in shares of Trinity Capital in the 4th quarter valued at approximately $25,000. Flagship Harbor Advisors LLC acquired a new stake in Trinity Capital in the fourth quarter worth $27,000. Sunbelt Securities Inc. acquired a new stake in Trinity Capital in the first quarter worth $37,000. Fifth Third Bancorp bought a new position in shares of Trinity Capital during the first quarter worth $37,000. Finally, JPMorgan Chase & Co. bought a new position in shares of Trinity Capital during the second quarter worth $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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