Trinity Capital (NASDAQ:TRIN) Announces Earnings Results

Trinity Capital (NASDAQ:TRIN) announced its quarterly earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.52, Zacks reports. Trinity Capital had a return on equity of 16.13% and a net margin of 50.49%.The company had revenue of $75.55 million during the quarter, compared to the consensus estimate of $74.31 million.

Trinity Capital Stock Performance

Trinity Capital stock traded up $0.19 during trading hours on Friday, reaching $14.60. 922,373 shares of the stock were exchanged, compared to its average volume of 691,119. Trinity Capital has a 52-week low of $12.50 and a 52-week high of $16.82. The stock has a market cap of $1.03 billion, a P/E ratio of 6.67 and a beta of 0.53. The firm’s 50 day moving average is $15.47 and its 200 day moving average is $15.02.

Trinity Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th were issued a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.0%. Trinity Capital’s payout ratio is presently 91.48%.

Insider Transactions at Trinity Capital

In other news, Director Ronald E. Estes acquired 2,000 shares of Trinity Capital stock in a transaction that occurred on Thursday, September 11th. The stock was purchased at an average price of $16.07 per share, for a total transaction of $32,140.00. Following the completion of the transaction, the director directly owned 35,779 shares in the company, valued at approximately $574,968.53. This trade represents a 5.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have bought 4,000 shares of company stock worth $64,360 over the last three months. Corporate insiders own 5.31% of the company’s stock.

Institutional Investors Weigh In On Trinity Capital

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its stake in shares of Trinity Capital by 55.1% in the third quarter. JPMorgan Chase & Co. now owns 5,961 shares of the company’s stock valued at $92,000 after purchasing an additional 2,118 shares during the period. Osaic Holdings Inc. raised its holdings in Trinity Capital by 49.6% during the second quarter. Osaic Holdings Inc. now owns 60,877 shares of the company’s stock worth $857,000 after purchasing an additional 20,191 shares during the last quarter. Advisory Services Network LLC boosted its position in Trinity Capital by 52.7% during the second quarter. Advisory Services Network LLC now owns 160,176 shares of the company’s stock worth $2,401,000 after purchasing an additional 55,252 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Trinity Capital by 159.6% in the second quarter. Corient Private Wealth LLC now owns 209,838 shares of the company’s stock valued at $2,952,000 after purchasing an additional 129,019 shares during the last quarter. Finally, Vident Advisory LLC increased its position in shares of Trinity Capital by 109.9% in the second quarter. Vident Advisory LLC now owns 46,640 shares of the company’s stock valued at $656,000 after buying an additional 24,421 shares in the last quarter. Institutional investors and hedge funds own 24.62% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. B. Riley boosted their target price on Trinity Capital from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Wells Fargo & Company restated an “underweight” rating and set a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a research report on Tuesday, August 12th. Finally, UBS Group dropped their target price on shares of Trinity Capital from $18.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, October 14th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Trinity Capital currently has an average rating of “Hold” and an average target price of $15.63.

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.