Trinity Capital (NASDAQ:TRIN) Issues Quarterly Earnings Results

Trinity Capital (NASDAQ:TRIN) posted its earnings results on Wednesday. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.03), Zacks reports. Trinity Capital had a net margin of 42.28% and a return on equity of 16.86%. The company had revenue of $50.45 million during the quarter, compared to analysts’ expectations of $50.09 million. During the same quarter last year, the firm earned $0.52 EPS.

Trinity Capital Price Performance

Shares of TRIN traded down $0.21 during trading hours on Thursday, hitting $14.50. 356,829 shares of the stock were exchanged, compared to its average volume of 511,692. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.06 and a current ratio of 0.06. Trinity Capital has a 12-month low of $11.32 and a 12-month high of $15.44. The company has a market cap of $712.68 million, a price-to-earnings ratio of 7.56 and a beta of 0.60. The stock’s 50-day moving average price is $14.66 and its two-hundred day moving average price is $14.50.

Trinity Capital Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 14.07%. This is a boost from Trinity Capital’s previous quarterly dividend of $0.50. The ex-dividend date was Wednesday, March 27th. Trinity Capital’s payout ratio is presently 106.81%.

Insider Buying and Selling

In other news, CEO Kyle Steven Brown bought 3,354 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $14.91 per share, with a total value of $50,008.14. Following the purchase, the chief executive officer now owns 821,477 shares in the company, valued at $12,248,222.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. B. Riley dropped their price target on Trinity Capital from $16.50 to $16.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group boosted their price target on Trinity Capital from $16.00 to $16.50 and gave the company a “buy” rating in a report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $15.50.

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.