Wells Fargo & Company MN Increases Stock Holdings in Trinity Capital Inc. (NASDAQ:TRIN)

Wells Fargo & Company MN boosted its position in shares of Trinity Capital Inc. (NASDAQ:TRIN - Free Report) by 652.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 243,414 shares of the company's stock after acquiring an additional 211,060 shares during the period. Wells Fargo & Company MN owned 0.41% of Trinity Capital worth $3,522,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of TRIN. McIlrath & Eck LLC purchased a new position in shares of Trinity Capital in the 3rd quarter worth $57,000. Trust Co. of Vermont purchased a new position in Trinity Capital during the fourth quarter valued at approximately $101,000. Blue Trust Inc. grew its stake in Trinity Capital by 27.2% in the fourth 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 last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Trinity Capital during the fourth quarter worth $152,000. Finally, Colonial River Investments LLC acquired a new stake in Trinity Capital in the fourth quarter worth about $158,000. Hedge funds and other institutional investors own 24.62% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on TRIN shares. UBS Group lowered their price target on shares of Trinity Capital from $18.00 to $16.50 and set a "buy" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company boosted their price target on shares of Trinity Capital from $13.00 to $14.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. Finally, Keefe, Bruyette & Woods upped 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, February 27th.

Trinity Capital Stock Performance

Shares of Trinity Capital stock opened at $14.30 on Wednesday. The firm has a market cap of $898.48 million, a PE ratio of 8.36 and a beta of 0.56. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.07. Trinity Capital Inc. has a 52 week low of $12.50 and a 52 week high of $16.82. The business's fifty day simple moving average is $15.38 and its 200-day simple moving average is $14.76.

Trinity Capital (NASDAQ:TRIN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.03. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. The company had revenue of $70.83 million for the quarter, compared to the consensus estimate of $64.13 million. Equities analysts forecast that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.51 per share. The ex-dividend date was Monday, March 31st. This represents a $2.04 annualized dividend and a dividend yield of 14.27%. Trinity Capital's payout ratio is currently 99.03%.

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.

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