Wells Fargo & Company MN Increases Stake in Trinity Capital Inc. (NASDAQ:TRIN)

Wells Fargo & Company MN grew its stake in Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 652.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 243,414 shares of the company's stock after purchasing an additional 211,060 shares during the period. Wells Fargo & Company MN owned approximately 0.41% of Trinity Capital worth $3,522,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TRIN. McIlrath & Eck LLC bought a new stake in shares of Trinity Capital in the 3rd quarter valued at approximately $57,000. Trust Co. of Vermont bought a new stake in shares of Trinity Capital during the 4th quarter worth approximately $101,000. Blue Trust Inc. lifted its stake in shares of Trinity Capital by 27.2% during the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock worth $133,000 after acquiring an additional 2,100 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Trinity Capital during the 4th quarter worth approximately $152,000. Finally, Colonial River Investments LLC bought a new stake in shares of Trinity Capital during the 4th quarter worth approximately $158,000. 24.62% of the stock is owned by institutional investors.

Trinity Capital Stock Performance

NASDAQ:TRIN traded down $0.02 during midday trading on Monday, hitting $14.84. The company's stock had a trading volume of 323,035 shares, compared to its average volume of 520,989. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The firm's 50 day moving average is $15.28 and its 200-day moving average is $14.79. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The firm has a market cap of $932.41 million, a P/E ratio of 8.68 and a beta of 0.56.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $70.83 million for the quarter, compared to analysts' expectations of $64.13 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. Equities analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.51 dividend. The ex-dividend date was Monday, March 31st. This represents a $2.04 dividend on an annualized basis and a yield of 13.75%. Trinity Capital's dividend payout ratio is currently 99.03%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. UBS Group reduced their price objective on Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company reduced their price objective on Trinity Capital from $14.00 to $13.00 and set an "underweight" rating on the stock in a report on Monday. Finally, Keefe, Bruyette & Woods raised their price objective on Trinity Capital from $15.00 to $16.00 and gave the stock a "market perform" rating in a report on Thursday, February 27th.

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.