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

Trinity Capital (NASDAQ:TRIN) had its target price lowered by Wells Fargo & Company from $14.00 to $13.00 in a research note published on Tuesday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Trinity Capital Stock Up 1.2 %

Shares of NASDAQ:TRIN opened at $13.78 on Tuesday. The stock has a market cap of $735.44 million, a price-to-earnings ratio of 8.06 and a beta of 0.55. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.07. Trinity Capital has a 12-month low of $13.27 and a 12-month high of $15.44. The business’s 50 day moving average is $13.89 and its 200 day moving average is $14.33.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, August 7th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). Trinity Capital had a return on equity of 16.64% and a net margin of 40.73%. The firm had revenue of $54.64 million during the quarter, compared to the consensus estimate of $53.17 million. During the same quarter in the previous year, the company earned $0.58 EPS. On average, sell-side analysts forecast that Trinity Capital will post 2.08 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.51 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $2.04 annualized dividend and a dividend yield of 14.80%. Trinity Capital’s dividend payout ratio is currently 119.30%.

Insider Activity

In other Trinity Capital news, CEO Kyle Steven Brown purchased 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The shares were acquired at an average cost of $14.15 per share, for a total transaction of $49,525.00. Following the completion of the acquisition, the chief executive officer now owns 975,298 shares of the company’s stock, valued at $13,800,466.70. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders acquired a total of 5,597 shares of company stock valued at $78,913 over the last three months. Corporate insiders own 6.38% of the company’s stock.

Institutional Trading of Trinity Capital

Large investors have recently added to or reduced their stakes in the stock. Catalyst Capital Advisors LLC boosted its stake in Trinity Capital by 111.4% in the third quarter. Catalyst Capital Advisors LLC now owns 38,337 shares of the company’s stock valued at $520,000 after acquiring an additional 20,200 shares during the last quarter. Emerald Advisers LLC lifted its stake in Trinity Capital by 11.3% in the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after purchasing an additional 82,001 shares during the last quarter. Van ECK Associates Corp grew its holdings in Trinity Capital by 14.3% during the third quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company’s stock valued at $17,902,000 after purchasing an additional 162,905 shares during the period. Chicago Partners Investment Group LLC increased its position in Trinity Capital by 33.5% in the third quarter. Chicago Partners Investment Group LLC now owns 67,157 shares of the company’s stock worth $924,000 after buying an additional 16,854 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Trinity Capital by 9.0% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,173 shares of the company’s stock valued at $152,000 after buying an additional 918 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.