Trinity Capital (NASDAQ:TRIN) Reaches New 1-Year High on Earnings Beat

Trinity Capital Inc. (NASDAQ:TRIN) hit a new 52-week high on Wednesday following a stronger than expected earnings report. The stock traded as high as $16.82 and last traded at $16.64, with a volume of 372915 shares. The stock had previously closed at $15.74.

The company reported $0.56 EPS for the quarter, beating 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%.

Trinity Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.51 dividend. This represents a $2.04 annualized dividend and a dividend yield of 12.26%. The ex-dividend date of this dividend was Tuesday, December 31st. Trinity Capital’s dividend payout ratio (DPR) is currently 119.30%.

Analysts Set New Price Targets

Separately, Wells Fargo & Company reiterated an “underweight” rating and set a $13.00 target price on shares of Trinity Capital in a report on Monday, December 2nd.

Institutional Trading of Trinity Capital

A number of hedge funds have recently made changes to their positions in TRIN. Emerald Advisers LLC boosted 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 buying an additional 82,001 shares during the last quarter. State Street Corp increased its holdings in Trinity Capital by 3.3% during the 3rd quarter. State Street Corp now owns 61,170 shares of the company’s stock worth $861,000 after purchasing an additional 1,936 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in shares of Trinity Capital by 31.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 88,311 shares of the company’s stock valued at $1,261,000 after purchasing an additional 21,154 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Trinity Capital by 14.3% during the third quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company’s stock worth $17,902,000 after buying an additional 162,905 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake in shares of Trinity Capital by 1,257.0% in the third quarter. International Assets Investment Management LLC now owns 33,925 shares of the company’s stock worth $460,000 after buying an additional 31,425 shares during the last quarter. Hedge funds and other institutional investors own 24.62% of the company’s stock.

Trinity Capital Stock Up 5.7 %

The stock has a market capitalization of $979.84 million, a price-to-earnings ratio of 9.72 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The firm’s fifty day moving average is $15.07 and its 200-day moving average is $14.39.

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.