Trinity Capital (NASDAQ:TRIN) Price Target Raised to $14.00 at Wells Fargo & Company

Trinity Capital (NASDAQ:TRIN) had its price target hoisted by Wells Fargo & Company from $13.00 to $14.00 in a report published on Friday,Benzinga reports. They currently have an underweight rating on the stock.

Separately, Keefe, Bruyette & Woods upped their price target on shares of Trinity Capital from $15.00 to $16.00 and gave the stock a “market perform” rating in a report on Thursday.

Trinity Capital Stock Performance

Trinity Capital stock opened at $16.56 on Friday. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. The stock has a market cap of $975.48 million, a PE ratio of 9.68 and a beta of 0.56. Trinity Capital has a 12-month low of $13.05 and a 12-month high of $16.82. The business’s 50-day moving average price is $15.15 and its two-hundred day moving average price is $14.42.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.03. The company had revenue of $70.83 million for the quarter, compared to analyst estimates of $64.13 million. Trinity Capital had a net margin of 40.73% and a return on equity of 15.90%. As a group, analysts expect that Trinity Capital will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.51 per share. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 annualized dividend and a yield of 12.32%. Trinity Capital’s dividend payout ratio is presently 99.03%.

Hedge Funds Weigh In On Trinity Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Emerald Advisers LLC grew its stake in shares of Trinity Capital by 11.3% in the third quarter. Emerald Advisers LLC now owns 804,942 shares of the company’s stock worth $10,923,000 after purchasing an additional 82,001 shares during the last quarter. State Street Corp grew its position in shares of Trinity Capital by 3.3% in the 3rd quarter. State Street Corp now owns 61,170 shares of the company’s stock valued at $861,000 after buying an additional 1,936 shares during the last quarter. Chicago Partners Investment Group LLC grew 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 buying an additional 21,154 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Trinity Capital by 14.3% in the third quarter. Van ECK Associates Corp now owns 1,301,090 shares of the company’s stock valued at $17,902,000 after buying an additional 162,905 shares during the period. Finally, International Assets Investment Management LLC raised its position in shares of Trinity Capital by 1,257.0% during the third quarter. International Assets Investment Management LLC now owns 33,925 shares of the company’s stock worth $460,000 after acquiring an additional 31,425 shares during the last quarter. 24.62% of the stock is currently owned by institutional investors and hedge funds.

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.