First Commonwealth Financial Corp PA Acquires Shares of 23,741 Trinity Capital Inc. (NASDAQ:TRIN)

First Commonwealth Financial Corp PA bought a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) in the 4th quarter, Holdings Channel reports. The institutional investor bought 23,741 shares of the company’s stock, valued at approximately $344,000.

A number of other large investors also recently made changes to their positions in TRIN. Commonwealth Equity Services LLC grew its holdings in Trinity Capital by 24.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 116,600 shares of the company’s stock valued at $1,687,000 after purchasing an additional 22,657 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Trinity Capital by 151.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 31,717 shares of the company’s stock worth $459,000 after purchasing an additional 19,125 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Trinity Capital in the 4th quarter valued at $708,000. State Street Corp increased its position in shares of Trinity Capital by 3.3% in the 3rd quarter. State Street Corp now owns 61,170 shares of the company’s stock valued at $861,000 after buying an additional 1,936 shares in the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Trinity Capital by 31.5% during the 4th quarter. Chicago Partners Investment Group LLC now owns 88,311 shares of the company’s stock worth $1,261,000 after buying an additional 21,154 shares during the period. Institutional investors and hedge funds own 24.62% of the company’s stock.

Trinity Capital Stock Up 1.3 %

TRIN stock opened at $14.32 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.05 and a quick ratio of 0.05. The stock has a market capitalization of $899.74 million, a P/E ratio of 8.37 and a beta of 0.56. Trinity Capital Inc. has a fifty-two week low of $12.50 and a fifty-two week high of $16.82. The business has a 50-day moving average of $15.47 and a 200-day moving average of $14.74.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, February 26th. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. The firm had revenue of $70.83 million during the quarter, compared to the consensus estimate of $64.13 million. Trinity Capital had a return on equity of 15.90% and a net margin of 40.73%. On average, sell-side analysts anticipate that Trinity Capital Inc. will post 2.06 earnings per share for the current fiscal year.

Trinity Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.51 dividend. This represents a $2.04 dividend on an annualized basis and a yield of 14.25%. The ex-dividend date was Monday, March 31st. Trinity Capital’s dividend payout ratio (DPR) is currently 99.03%.

Analysts Set New Price Targets

A number of research analysts have issued reports on TRIN shares. Keefe, Bruyette & Woods boosted their target price on Trinity Capital from $15.00 to $16.00 and gave the company a “market perform” rating in a research note on Thursday, February 27th. Wells Fargo & Company increased their target price on Trinity Capital from $13.00 to $14.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. Finally, UBS Group cut their price target on shares of Trinity Capital from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Thursday.

Trinity Capital Company Profile

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.