Trinity Capital Inc. (TRIN) To Go Ex-Dividend on June 11th

Trinity Capital Inc. (NASDAQ:TRIN) announced a monthly dividend on Wednesday, March 18th. Investors of record on Thursday, June 11th will be given a dividend of 0.17 per share on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 12.2%. The ex-dividend date of this dividend is Thursday, June 11th.

Trinity Capital has a payout ratio of 100.0% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Research analysts expect Trinity Capital to earn $2.12 per share next year, which means the company should continue to be able to cover its $2.04 annual dividend with an expected future payout ratio of 96.2%.

Trinity Capital Price Performance

NASDAQ TRIN opened at $16.72 on Tuesday. The stock has a market capitalization of $1.50 billion, a PE ratio of 8.85 and a beta of 0.62. Trinity Capital has a 1 year low of $13.76 and a 1 year high of $17.38. The business’s 50-day moving average is $16.17 and its 200 day moving average is $15.61.

Trinity Capital (NASDAQ:TRIN) last posted its earnings results on Wednesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. The company had revenue of $51.37 million for the quarter, compared to analysts’ expectations of $85.87 million. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%. As a group, equities research analysts anticipate that Trinity Capital will post 2.1 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Steve Louis Brown purchased 27,109 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were purchased at an average cost of $14.75 per share, with a total value of $399,857.75. Following the transaction, the chairman directly owned 940,745 shares in the company, valued at $13,875,988.75. This trade represents a 2.97% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kyle Steven Brown purchased 3,532 shares of the company’s stock in a transaction dated Monday, March 16th. The stock was bought at an average cost of $14.16 per share, for a total transaction of $50,013.12. Following the completion of the transaction, the chief executive officer owned 620,709 shares in the company, valued at approximately $8,789,239.44. This represents a 0.57% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 31,941 shares of company stock worth $468,574. Insiders own 6.38% of the company’s stock.

Hedge Funds Weigh In On Trinity Capital

A number of hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Trinity Capital by 57.7% in the 1st quarter. Bank of America Corp DE now owns 190,166 shares of the company’s stock worth $2,797,000 after acquiring an additional 69,586 shares during the last quarter. Sunbelt Securities Inc. purchased a new position in Trinity Capital in the 1st quarter worth approximately $37,000. Royal Bank of Canada raised its holdings in Trinity Capital by 58.2% in the 1st quarter. Royal Bank of Canada now owns 52,305 shares of the company’s stock worth $769,000 after acquiring an additional 19,249 shares during the last quarter. Empowered Funds LLC raised its holdings in Trinity Capital by 10.5% in the 1st quarter. Empowered Funds LLC now owns 16,877 shares of the company’s stock worth $248,000 after acquiring an additional 1,601 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Trinity Capital by 100.0% in the 1st quarter. Sei Investments Co. now owns 64,244 shares of the company’s stock worth $945,000 after acquiring an additional 32,122 shares during the last quarter. 24.62% of the stock is currently owned by hedge funds and other institutional investors.

About Trinity Capital

Trinity Capital Corporation (NASDAQ: TRIN) is a publicly traded business development company that provides flexible financing solutions to venture-backed and growth-stage companies. As a venture lender, Trinity Capital offers customized capital structures, including secured debt and equity co-investment, designed to support companies that have progressed beyond early-stage funding but still require non-dilutive growth capital.

The company focuses its investments on technology-driven sectors such as software, fintech, healthcare, life sciences and cleantech.