PNC Financial Services Group Inc. Makes New Investment in Trinity Capital Inc. $TRIN

PNC Financial Services Group Inc. acquired a new stake in shares of Trinity Capital Inc. (NASDAQ:TRIN) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,000 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Wealth Enhancement Advisory Services LLC lifted its holdings in Trinity Capital by 9.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,173 shares of the company’s stock valued at $176,000 after acquiring an additional 1,000 shares during the period. PFG Investments LLC grew its stake in shares of Trinity Capital by 9.9% during the 1st quarter. PFG Investments LLC now owns 13,204 shares of the company’s stock worth $200,000 after purchasing an additional 1,188 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Trinity Capital during the 1st quarter valued at approximately $38,000. Guggenheim Capital LLC increased its holdings in shares of Trinity Capital by 9.2% during the 4th quarter. Guggenheim Capital LLC now owns 30,027 shares of the company’s stock valued at $434,000 after purchasing an additional 2,541 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Trinity Capital by 36.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,000 shares of the company’s stock valued at $222,000 after purchasing an additional 3,706 shares during the period. Institutional investors and hedge funds own 24.62% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on TRIN. Keefe, Bruyette & Woods decreased their target price on shares of Trinity Capital from $16.00 to $15.00 and set a “market perform” rating for the company in a research note on Thursday, May 8th. Wells Fargo & Company reiterated an “underweight” rating and issued a $13.50 price objective (up previously from $13.00) on shares of Trinity Capital in a research report on Tuesday, August 12th. UBS Group upped their price objective on shares of Trinity Capital from $17.00 to $17.50 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, B. Riley upped their price objective on shares of Trinity Capital from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $15.75.

Trinity Capital Stock Down 0.4%

TRIN opened at $15.77 on Friday. Trinity Capital Inc. has a twelve month low of $12.50 and a twelve month high of $16.82. The company has a 50-day moving average price of $14.86 and a 200 day moving average price of $15.01. The company has a market cap of $1.11 billion, a PE ratio of 7.07 and a beta of 0.54.

Trinity Capital (NASDAQ:TRIN) last released its quarterly earnings results on Wednesday, August 6th. The company reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. Trinity Capital had a net margin of 51.88% and a return on equity of 15.72%. The firm had revenue of $69.48 million during the quarter, compared to the consensus estimate of $68.84 million. As a group, sell-side analysts expect that Trinity Capital Inc. will post 2.06 earnings per share for the current year.

Trinity Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 12.9%. The ex-dividend date was Monday, June 30th. Trinity Capital’s dividend payout ratio is 91.48%.

Insider Buying and Selling at Trinity Capital

In other Trinity Capital news, CEO Kyle Steven Brown acquired 3,200 shares of the business’s stock in a transaction on Friday, August 8th. The stock was bought at an average price of $15.78 per share, for a total transaction of $50,496.00. Following the acquisition, the chief executive officer owned 1,006,300 shares in the company, valued at approximately $15,879,414. The trade was a 0.32% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have bought 5,900 shares of company stock worth $89,546. 5.31% of the stock is owned by corporate insiders.

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.