Independent Financial Group LLC Invests $933,000 in Trinity Capital Inc. $TRIN

Independent Financial Group LLC purchased a new position in Trinity Capital Inc. (NASDAQ:TRIN) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 63,426 shares of the company’s stock, valued at approximately $933,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Marshall Wace LLP lifted its position in Trinity Capital by 4,587.0% during the third quarter. Marshall Wace LLP now owns 1,151,272 shares of the company’s stock worth $17,822,000 after purchasing an additional 1,126,709 shares during the period. Sound Income Strategies LLC increased its holdings in Trinity Capital by 58,959.2% in the 4th quarter. Sound Income Strategies LLC now owns 944,948 shares of the company’s stock valued at $15,318,000 after buying an additional 943,348 shares during the period. Eagle Point Credit Management LLC acquired a new position in shares of Trinity Capital in the 4th quarter valued at approximately $10,657,000. Two Sigma Investments LP raised its position in shares of Trinity Capital by 83.5% in the 3rd quarter. Two Sigma Investments LP now owns 986,184 shares of the company’s stock valued at $15,266,000 after buying an additional 448,626 shares in the last quarter. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of Trinity Capital in the 4th quarter valued at approximately $5,493,000. Institutional investors and hedge funds own 24.62% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Trinity Capital from a “sell” rating to a “hold” rating in a research report on Sunday, March 29th. Wells Fargo & Company upped their target price on Trinity Capital from $13.50 to $15.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. Finally, Keefe, Bruyette & Woods raised their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.64.

Trinity Capital Stock Performance

NASDAQ TRIN opened at $17.69 on Tuesday. The firm’s fifty day moving average price is $17.14 and its two-hundred day moving average price is $16.11. The stock has a market cap of $1.59 billion, a PE ratio of 9.36 and a beta of 0.61. Trinity Capital Inc. has a fifty-two week low of $14.13 and a fifty-two week high of $18.08.

Trinity Capital (NASDAQ:TRIN) last announced its quarterly earnings results on Wednesday, May 6th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a return on equity of 14.94% and a net margin of 43.45%.The company had revenue of $51.37 million during the quarter, compared to analysts’ expectations of $85.87 million. As a group, sell-side analysts predict that Trinity Capital Inc. will post 2.1 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be issued a $0.17 dividend. This represents a c) dividend on an annualized basis and a yield of 11.5%. The ex-dividend date of this dividend is Thursday, September 10th. Trinity Capital’s dividend payout ratio is presently 107.94%.

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.