Trinity Capital Inc. (NASDAQ:TRIN) Raises Dividend to $0.54 Per Share

Trinity Capital Inc. (NASDAQ:TRIN) declared a quarterly dividend on Wednesday, September 13th, Zacks reports. Investors of record on Saturday, September 30th will be paid a dividend of 0.54 per share on Friday, October 13th. This represents a $2.16 annualized dividend and a yield of 14.66%. The ex-dividend date is Thursday, September 28th. This is an increase from Trinity Capital’s previous quarterly dividend of $0.53.

Trinity Capital Price Performance

Shares of Trinity Capital stock opened at $14.73 on Friday. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.10. Trinity Capital has a 52 week low of $10.23 and a 52 week high of $15.59. The stock’s 50-day simple moving average is $14.50 and its 200-day simple moving average is $13.40. The company has a market capitalization of $541.47 million, a price-to-earnings ratio of 20.75 and a beta of 0.62.

Trinity Capital (NASDAQ:TRIN) last issued its earnings results on Wednesday, August 2nd. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. Trinity Capital had a net margin of 17.15% and a return on equity of 17.25%. The firm had revenue of $46.05 million during the quarter, compared to analyst estimates of $41.27 million. As a group, analysts expect that Trinity Capital will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TRIN shares. UBS Group raised their price objective on Trinity Capital from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Thursday, August 17th. Compass Point raised shares of Trinity Capital from a “neutral” rating to a “buy” rating and set a $15.50 price objective for the company in a research note on Tuesday, August 22nd. Keefe, Bruyette & Woods raised shares of Trinity Capital from an “underperform” rating to a “market perform” rating and set a $15.00 target price on the stock in a research note on Monday, August 7th. Oppenheimer lifted their price target on shares of Trinity Capital from $13.00 to $15.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Finally, Jefferies Financial Group began coverage on shares of Trinity Capital in a research report on Wednesday, July 5th. They issued an “overweight” rating and a $15.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $16.31.

Insider Buying and Selling

In other Trinity Capital news, insider Kyle Steven Brown purchased 3,531 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were acquired at an average price of $14.16 per share, for a total transaction of $49,998.96. Following the completion of the purchase, the insider now owns 51,819 shares of the company’s stock, valued at $733,757.04. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 7.75% of the stock is owned by company insiders.

Institutional Trading of Trinity Capital

Hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in shares of Trinity Capital by 259.9% during the first quarter. Bank of America Corp DE now owns 2,631 shares of the company’s stock worth $33,000 after buying an additional 1,900 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Trinity Capital by 296.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,482 shares of the company’s stock worth $44,000 after acquiring an additional 2,603 shares during the last quarter. Quantbot Technologies LP purchased a new position in shares of Trinity Capital during the 2nd quarter worth approximately $78,000. Royal Bank of Canada boosted its position in shares of Trinity Capital by 27,469.2% during the 1st quarter. Royal Bank of Canada now owns 7,168 shares of the company’s stock worth $138,000 after purchasing an additional 7,142 shares during the period. Finally, Private Advisor Group LLC acquired a new stake in Trinity Capital in the 1st quarter valued at about $127,000. 21.26% of the stock is owned by hedge funds and other 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.