According to Zacks, “Trinity Capital Inc. is an internally managed business development company. It provides debt, including loans and equipment financing, to growth stage companies, including venture-backed companies and companies with institutional equity investors. Trinity Capital Inc. is based in PHOENIX. “
Separately, Wells Fargo & Company boosted their price objective on Trinity Capital from $15.50 to $15.75 and gave the company an overweight rating in a research note on Monday, August 9th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Trinity Capital has an average rating of Buy and an average target price of $16.50.
Trinity Capital (OTCMKTS:TRIN) last released its quarterly earnings data on Thursday, August 5th. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.06. Trinity Capital had a return on equity of 11.48% and a net margin of 109.78%. The company had revenue of $19.48 million for the quarter, compared to analyst estimates of $17.78 million. Sell-side analysts anticipate that Trinity Capital will post 1.42 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Tuesday, June 29th. This is a positive change from Trinity Capital’s previous quarterly dividend of $0.28. This represents a $1.16 annualized dividend and a yield of 7.10%. Trinity Capital’s payout ratio is presently 89.92%.
In related news, CFO David Michael Lund bought 3,500 shares of the company’s stock in a transaction on Monday, August 23rd. The stock was acquired at an average cost of $14.99 per share, for a total transaction of $52,465.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.80% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TRIN. UBS Group AG purchased a new position in shares of Trinity Capital in the first quarter worth $115,000. Citadel Advisors LLC purchased a new position in shares of Trinity Capital in the second quarter worth $160,000. Geode Capital Management LLC purchased a new position in shares of Trinity Capital in the first quarter worth $215,000. Envestnet Asset Management Inc. purchased a new position in shares of Trinity Capital in the second quarter worth $292,000. Finally, Neuberger Berman Group LLC purchased a new position in shares of Trinity Capital in the first quarter worth $313,000. Hedge funds and other institutional investors own 26.06% of the company’s stock.
About Trinity Capital
Trinity Capital Inc 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 Chandler, Arizona.
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