Trinity Capital (NASDAQ:TRIN) Hits New 1-Year High After Better-Than-Expected Earnings

Trinity Capital Inc. (NASDAQ:TRIN - Get Free Report)'s share price hit a new 52-week high during mid-day trading 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. The stock had previously closed at $15.74.

The company reported $0.56 EPS 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.51 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.04 dividend on an annualized basis and a dividend yield of 12.32%. Trinity Capital's payout ratio is presently 99.03%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Trinity Capital from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Friday. Keefe, Bruyette & Woods lifted their target price on shares of Trinity Capital from $15.00 to $16.00 and gave the company a "market perform" rating in a research note on Thursday.

Institutional Trading of Trinity Capital

Institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its position in shares of Trinity Capital by 1,053.0% during the 3rd quarter. Quarry LP now owns 3,701 shares of the company's stock valued at $50,000 after acquiring an additional 3,380 shares during the last quarter. McIlrath & Eck LLC bought a new stake in shares of Trinity Capital during the 3rd quarter valued at $57,000. Trust Co. of Vermont bought a new stake in shares of Trinity Capital during the 4th quarter valued at $101,000. Aquatic Capital Management LLC acquired a new position in shares of Trinity Capital in the 4th quarter valued at $124,000. Finally, Blue Trust Inc. raised its stake in Trinity Capital by 27.2% during the 4th quarter. Blue Trust Inc. now owns 9,814 shares of the company's stock worth $133,000 after buying an additional 2,100 shares during the period. Institutional investors own 24.62% of the company's stock.

Trinity Capital Price Performance

The firm has a market cap of $975.48 million, a price-to-earnings ratio of 9.68 and a beta of 0.56. The company has a current ratio of 0.05, a quick ratio of 0.05 and a debt-to-equity ratio of 0.07. The company has a 50 day moving average of $15.15 and a 200 day moving average of $14.42.

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.