Trinity Capital (NASDAQ:TRIN) Price Target Raised to $14.00

Trinity Capital (NASDAQ:TRIN) had its price objective hoisted by Wells Fargo & Company from $13.00 to $14.00 in a research report report published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Separately, 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 report on Thursday.

Trinity Capital Stock Performance

TRIN stock opened at $16.56 on Friday. The firm has a market cap of $975.48 million, a PE ratio of 9.68 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $15.15 and a 200-day moving average price of $14.42. Trinity Capital has a 1-year low of $13.05 and a 1-year high of $16.82.

Trinity Capital (NASDAQ:TRIN) last released its earnings results on Wednesday, February 26th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The business had revenue of $70.83 million during the quarter, compared to analysts’ expectations of $64.13 million. As a group, equities research analysts expect that Trinity Capital will post 2.06 earnings per share for the current year.

Trinity Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.51 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.04 annualized dividend and a dividend yield of 12.32%. Trinity Capital’s dividend payout ratio is 99.03%.

Hedge Funds Weigh In On Trinity Capital

A number of large investors have recently modified their holdings of TRIN. Van ECK Associates Corp raised its holdings in Trinity Capital by 6.8% during the fourth quarter. Van ECK Associates Corp now owns 1,389,788 shares of the company’s stock worth $20,110,000 after buying an additional 88,698 shares during the last quarter. Melia Wealth LLC increased its position in shares of Trinity Capital by 3.0% during the fourth quarter. Melia Wealth LLC now owns 1,096,969 shares of the company’s stock worth $15,873,000 after acquiring an additional 32,107 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of Trinity Capital by 9.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 843,849 shares of the company’s stock worth $12,211,000 after acquiring an additional 71,633 shares during the last quarter. Emerald Advisers LLC lifted its position in Trinity Capital by 11.3% in the 3rd quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock valued at $10,923,000 after acquiring an additional 82,001 shares in the last quarter. Finally, Ares Management LLC boosted its stake in Trinity Capital by 25.0% during the 4th quarter. Ares Management LLC now owns 549,839 shares of the company’s stock valued at $7,956,000 after purchasing an additional 109,839 shares during the last quarter. 24.62% of the stock is currently owned by institutional investors.

Trinity Capital Company Profile

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.