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

Trinity Capital Inc. (NASDAQ:TRIN)’s share price hit a new 52-week high during trading on Tuesday . The stock traded as high as $18.13 and last traded at $18.1050, with a volume of 234633 shares trading hands. The stock had previously closed at $17.83.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TRIN. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a report on Thursday, May 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. One 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $16.64.

Trinity Capital Price Performance

The company’s 50 day moving average price is $17.33 and its 200 day moving average price is $16.29. The firm has a market cap of $1.57 billion, a PE ratio of 9.20 and a beta of 0.61.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. The firm had revenue of $51.37 million during 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%. Sell-side analysts expect that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

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 paid a $0.17 dividend. The ex-dividend date is Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 11.7%. Trinity Capital’s payout ratio is 107.94%.

Institutional Trading of Trinity Capital

Large investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. purchased a new position in Trinity Capital in the fourth quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new stake in Trinity Capital in the 4th quarter valued at about $27,000. Sunbelt Securities Inc. purchased a new position in shares of Trinity Capital in the 1st quarter valued at about $37,000. Fifth Third Bancorp purchased a new position in shares of Trinity Capital in the 1st quarter valued at about $37,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Trinity Capital during the second quarter worth 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.