Trinity Capital’s (TRIN) “Buy” Rating Reaffirmed at B. Riley Financial

B. Riley Financial reaffirmed their buy rating on shares of Trinity Capital (NASDAQ:TRIN) in a research report report published on Friday morning,Benzinga reports. They currently have a $20.00 price objective on the stock, up from their prior price objective of $19.00.

A number of other research firms have also commented on TRIN. Wells Fargo & Company upped their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the company an “underweight” rating in a research note on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Trinity Capital from $16.50 to $18.00 and gave the stock a “market perform” rating in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.58.

Trinity Capital Trading Up 0.4%

TRIN stock traded up $0.07 on Friday, hitting $17.81. 1,086,965 shares of the company’s stock traded hands, compared to its average volume of 1,128,166. Trinity Capital has a 1-year low of $14.13 and a 1-year high of $18.90. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 9.42 and a beta of 0.66. The stock has a fifty day moving average of $17.40 and a 200-day moving average of $16.73.

Trinity Capital (NASDAQ:TRIN) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). The business had revenue of $87.17 million during the quarter, compared to analyst estimates of $91.44 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. On average, equities research analysts anticipate that Trinity Capital will post 2.10 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a $0.17 dividend. This represents a $2.04 dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Friday, December 11th. Trinity Capital’s dividend payout ratio is 116.57%.

Institutional Trading of Trinity Capital

Several institutional investors have recently made changes to their positions in TRIN. Van ECK Associates Corp increased its stake in Trinity Capital by 39.3% in the 2nd quarter. Van ECK Associates Corp now owns 2,153,437 shares of the company’s stock valued at $38,525,000 after buying an additional 607,988 shares during the period. Melia Wealth LLC acquired a new stake in shares of Trinity Capital during the 2nd quarter valued at $24,221,000. Sound Income Strategies LLC grew its holdings in shares of Trinity Capital by 9.4% during the 2nd quarter. Sound Income Strategies LLC now owns 1,269,744 shares of the company’s stock valued at $22,716,000 after acquiring an additional 109,291 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Trinity Capital by 2.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 346,192 shares of the company’s stock valued at $6,193,000 after acquiring an additional 7,314 shares in the last quarter. Finally, BlackRock Inc. purchased a new position in shares of Trinity Capital during the 2nd quarter valued at $5,134,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about Trinity Capital

Here are the key news stories impacting Trinity Capital this week:

• Positive Sentiment: B. Riley reaffirmed its Buy rating and raised its price target to $20 from $19, signaling more potential upside in the firm’s view. B. Riley rating information
• Positive Sentiment: Trinity outlined up to $500 million of capacity for its Desert Star joint venture, while its managed-funds platform approaches $1 billion. The added capacity could support growth in investment activity. Trinity Capital outlines Desert Star JV capacity
• Neutral Sentiment: Trinity reported third-quarter and nine-month results, but the provided coverage does not include the figures needed to assess whether performance beat expectations. Trinity Capital third-quarter results
• Neutral Sentiment: Seeking Alpha commentary described Trinity’s Q3 metrics and credit profile as supportive of its baby bonds. That view relates primarily to the company’s debt securities, rather than directly recommending the common stock. Trinity Capital Q3 metrics and credit profile
• Negative Sentiment: Wells Fargo raised its target to $16 from $15 but maintained an Underweight rating, implying downside from the referenced share price. KBW also raised its target—to $18 from $16.50—while keeping a Market Perform rating, reflecting a more restrained outlook than B. Riley’s. Wells Fargo price-target coverage

Trinity Capital Company Profile

Trinity Capital Inc (NASDAQ:TRIN) is a business development company that provides debt financing to venture capital- and private equity-backed companies. The company focuses primarily on growth-stage businesses that may require capital to support expansion, product development, acquisitions, working capital and other corporate needs.

Through its investment platform, Trinity Capital offers a range of financing solutions, including secured loans, equipment financing, growth capital and other customized debt structures.