Trinity Capital (NASDAQ:TRIN) Hits New 52-Week High – What’s Next?

Trinity Capital Inc. (NASDAQ:TRIN) hit a new 52-week high during trading on Monday . The company traded as high as $17.61 and last traded at $17.6410, with a volume of 570345 shares trading hands. The stock had previously closed at $17.04.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on TRIN shares. Keefe, Bruyette & Woods boosted their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. Wells Fargo & Company increased their target price on shares of Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a report on Thursday, May 7th. Finally, Wall Street Zen raised shares of Trinity Capital from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.64.

Trinity Capital Stock Performance

The firm has a market cap of $1.61 billion, a PE ratio of 9.47 and a beta of 0.62. The company’s 50-day simple moving average is $16.78 and its two-hundred day simple moving average is $15.86.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $51.37 million for the quarter, compared to analysts’ expectations of $85.87 million. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. On average, analysts expect that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Thursday, September 10th. This represents a c) dividend on an annualized basis and a yield of 11.4%. Trinity Capital’s dividend payout ratio is presently 107.94%.

Institutional Investors Weigh In On Trinity Capital

Several institutional investors and hedge funds have recently bought and sold shares of TRIN. Nomura Asset Management Co. Ltd. purchased a new position in shares of Trinity Capital during the fourth quarter valued at approximately $25,000. Flagship Harbor Advisors LLC purchased a new stake in Trinity Capital in the fourth quarter worth $27,000. Sunbelt Securities Inc. bought a new stake in Trinity Capital in the first quarter valued at $37,000. Fifth Third Bancorp bought a new stake in Trinity Capital in the first quarter valued at $37,000. Finally, JPMorgan Chase & Co. purchased a new position in Trinity Capital during the 2nd quarter valued at $54,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

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.