M&T Bank Corp Invests $182,000 in Trinity Capital Inc. (NASDAQ:TRIN)

M&T Bank Corp purchased a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) during the first quarter, Holdings Channel.com reports. The fund purchased 12,000 shares of the company’s stock, valued at approximately $182,000.

Several other hedge funds have also recently modified their holdings of TRIN. Farther Finance Advisors LLC purchased a new position in shares of Trinity Capital in the 1st quarter worth about $38,000. Aquatic Capital Management LLC purchased a new position in Trinity Capital in the 4th quarter valued at approximately $124,000. Axxcess Wealth Management LLC purchased a new position in shares of Trinity Capital in the fourth quarter valued at $158,000. D.A. Davidson & CO. bought a new stake in shares of Trinity Capital during the first quarter valued at about $160,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Trinity Capital by 9.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company’s stock worth $176,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 24.62% of the company’s stock.

Trinity Capital Price Performance

Shares of TRIN stock opened at $14.97 on Friday. The business’s fifty day moving average is $14.49 and its 200 day moving average is $14.90. The stock has a market cap of $967.81 million, a price-to-earnings ratio of 6.84 and a beta of 0.53. Trinity Capital Inc. has a twelve month low of $12.50 and a twelve month high of $16.82.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.01). The company had revenue of $65.39 million for the quarter, compared to the consensus estimate of $67.67 million. Trinity Capital had a net margin of 50.74% and a return on equity of 15.91%. Equities research analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 13.63%. The ex-dividend date was Monday, June 30th. Trinity Capital’s dividend payout ratio (DPR) is presently 93.15%.

Insider Activity

In other news, Director Richard P. Hamada sold 3,335 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $14.90, for a total value of $49,691.50. Following the completion of the sale, the director directly owned 93,735 shares in the company, valued at $1,396,651.50. This represents a 3.44% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Kyle Steven Brown bought 3,513 shares of the firm’s stock in a transaction on Friday, May 9th. The shares were purchased at an average price of $14.22 per share, for a total transaction of $49,954.86. Following the purchase, the chief executive officer owned 55,332 shares in the company, valued at $786,821.04. This trade represents a 6.78% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 6,213 shares of company stock valued at $89,005 in the last ninety days. Insiders own 5.31% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Keefe, Bruyette & Woods decreased their target price on Trinity Capital from $16.00 to $15.00 and set a “market perform” rating on the stock in a research note on Thursday, May 8th. UBS Group lifted their price objective on Trinity Capital from $17.00 to $17.50 and gave the stock a “buy” rating in a report on Wednesday. B. Riley began coverage on shares of Trinity Capital in a research report on Tuesday, May 13th. They set a “buy” rating and a $16.00 price target for the company. Finally, Wells Fargo & Company cut their price objective on Trinity Capital from $14.00 to $13.00 and set an “underweight” rating on the stock in a research report on Monday, April 28th.

Trinity Capital Company Profile

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.