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

Independent Financial Group LLC bought a new stake in Trinity Capital Inc. (NASDAQ:TRINFree Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 63,426 shares of the company’s stock, valued at approximately $933,000. Independent Financial Group LLC owned 0.07% of Trinity Capital as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Trinity Capital by 609.9% during the first quarter. Goldman Sachs Group Inc. now owns 136,672 shares of the company’s stock worth $2,072,000 after purchasing an additional 117,420 shares during the period. Empowered Funds LLC bought a new stake in Trinity Capital in the first quarter valued at approximately $234,000. JPMorgan Chase & Co. acquired a new stake in shares of Trinity Capital in the second quarter valued at approximately $54,000. Invesco Ltd. lifted its position in shares of Trinity Capital by 2.7% in the second quarter. Invesco Ltd. now owns 838,194 shares of the company’s stock valued at $11,793,000 after buying an additional 21,729 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in shares of Trinity Capital in the second quarter valued at approximately $346,000. 24.62% of the stock is currently owned by institutional investors and hedge funds.

Trinity Capital Stock Performance

NASDAQ:TRIN opened at $17.69 on Tuesday. Trinity Capital Inc. has a 52 week low of $14.13 and a 52 week high of $18.08. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 9.36 and a beta of 0.61. The firm’s 50-day simple moving average is $17.14 and its 200 day simple moving average is $16.11.

Trinity Capital (NASDAQ:TRINGet Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. Trinity Capital had a net margin of 43.45% and a return on equity of 14.94%. The firm had revenue of $51.37 million during the quarter, compared to the consensus estimate of $85.87 million. Sell-side analysts anticipate that Trinity Capital Inc. will post 2.1 EPS for the current year.

Trinity Capital Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company increased their price target on Trinity Capital from $13.50 to $15.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded shares of Trinity Capital from a “sell” rating to a “hold” rating in a report on Sunday, March 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research 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 assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $16.64.

Check Out Our Latest Stock Analysis on Trinity Capital

Trinity Capital Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Trinity Capital (NASDAQ:TRIN)

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