Trinity Capital’s (TRIN) “Underweight” Rating Reiterated at Wells Fargo & Company

Wells Fargo & Company reaffirmed their underweight rating on shares of Trinity Capital (NASDAQ:TRIN) in a research report released on Monday, Marketbeat Ratings reports. They currently have a $13.00 target price on the stock.

Trinity Capital Stock Performance

Shares of TRIN opened at $14.40 on Monday. Trinity Capital has a 1 year low of $13.05 and a 1 year high of $15.44. The company has a market cap of $848.25 million, a price-to-earnings ratio of 8.42 and a beta of 0.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.05 and a current ratio of 0.05. The firm has a fifty day moving average of $13.94 and a 200-day moving average of $14.22.

Trinity Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.51 per share. This represents a $2.04 dividend on an annualized basis and a dividend yield of 14.17%. The ex-dividend date of this dividend was Monday, September 30th. Trinity Capital’s dividend payout ratio is currently 119.30%.

Insider Activity at Trinity Capital

In other Trinity Capital news, Chairman Steve Louis Brown purchased 19,350 shares of the business’s stock in a transaction on Monday, November 4th. The stock was bought at an average cost of $13.12 per share, with a total value of $253,872.00. Following the acquisition, the chairman now owns 722,182 shares of the company’s stock, valued at $9,475,027.84. The trade was a 2.75 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ronald E. Estes purchased 2,000 shares of the business’s stock in a transaction on Friday, November 1st. The stock was acquired at an average cost of $13.59 per share, with a total value of $27,180.00. Following the completion of the acquisition, the director now directly owns 25,836 shares in the company, valued at $351,111.24. The trade was a 8.39 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 29,702 shares of company stock worth $392,696 over the last ninety days. 6.38% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Trinity Capital

A number of institutional investors and hedge funds have recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in Trinity Capital during the second quarter valued at about $35,000. Quarry LP lifted its stake in Trinity Capital by 1,053.0% during the third quarter. Quarry LP now owns 3,701 shares of the company’s stock valued at $50,000 after buying an additional 3,380 shares in the last quarter. McIlrath & Eck LLC purchased a new stake in Trinity Capital during the third quarter valued at about $57,000. Blue Trust Inc. lifted its stake in Trinity Capital by 522.1% during the third quarter. Blue Trust Inc. now owns 7,714 shares of the company’s stock valued at $109,000 after buying an additional 6,474 shares in the last quarter. Finally, MQS Management LLC purchased a new stake in Trinity Capital during the second quarter valued at about $152,000. 24.62% of the stock is owned by institutional investors and hedge funds.

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.