Trinity Capital (NASDAQ:TRIN) Reaches New 12-Month High – Still a Buy?

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

Wall Street Analysts Forecast Growth

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

Trinity Capital Trading Up 4.0%

The stock has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.37 and a beta of 0.62. The business has a 50 day simple moving average of $16.71 and a 200-day simple moving average of $15.83.

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

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors 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) annualized dividend and a yield of 11.5%. Trinity Capital’s dividend payout ratio is 107.94%.

Hedge Funds Weigh In On Trinity Capital

A number of large investors have recently bought and sold shares of TRIN. Nomura Asset Management Co. Ltd. acquired a new position in shares of Trinity Capital in the 4th quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Trinity Capital during the 4th quarter worth $27,000. Sunbelt Securities Inc. purchased a new position in shares of Trinity Capital in the 1st quarter worth $37,000. Fifth Third Bancorp acquired a new position in Trinity Capital in the first quarter valued at $37,000. Finally, JPMorgan Chase & Co. purchased a new stake in Trinity Capital during the second quarter valued at about $54,000. Hedge funds and other institutional investors own 24.62% of the company’s stock.

About Trinity Capital

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.