Trinity Capital (NASDAQ:TRIN) Sets New 12-Month High on Earnings Beat

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

The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The business had revenue of $70.83 million for the quarter, compared to analyst estimates of $64.13 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%.

Trinity Capital Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 12.33%. Trinity Capital’s dividend payout ratio is currently 119.30%.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Trinity Capital

A number of institutional investors have recently made changes to their positions in TRIN. Quarry LP lifted its stake in shares of Trinity Capital by 1,053.0% in the 3rd quarter. Quarry LP now owns 3,701 shares of the company’s stock valued at $50,000 after purchasing an additional 3,380 shares during the period. McIlrath & Eck LLC acquired a new position in shares of Trinity Capital in the 3rd quarter valued at about $57,000. Trust Co. of Vermont acquired a new position in shares of Trinity Capital in the 4th quarter valued at about $101,000. Aquatic Capital Management LLC acquired a new position in shares of Trinity Capital in the 4th quarter valued at about $124,000. Finally, Blue Trust Inc. lifted its stake in shares of Trinity Capital by 27.2% in the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company’s stock valued at $133,000 after purchasing an additional 2,100 shares during the period. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Price Performance

The company has a market capitalization of $974.31 million, a price-to-earnings ratio of 9.67 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The business has a 50 day moving average price of $15.11 and a 200-day moving average price of $14.41.

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.