Zacks Investment Research downgraded shares of Triumph Bancorp, Inc. (NASDAQ:TBK) from a buy rating to a hold rating in a research note published on Wednesday morning.
According to Zacks, “Triumph Bancorp Inc. is a financial holding company with a diversified line of community banking, commercial finance and asset management activities. It serves its local communities through its two wholly owned bank subsidiaries, Triumph Savings Bank, SSB and Triumph Community Bank, N.A. These operations include a full suite of lending and depository products and services focused on meeting the needs of its customers in its community banking markets. It serves a broad national customer base through its commercial finance brands, which include discount factoring through Triumph Business Capital, equipment lending and general asset based lending through Triumph Commercial Finance, healthcare asset based lending through Triumph Healthcare Finance, commercial insurance through Triumph Insurance Group, institutional asset management services through Triumph Capital Advisors. Triumph Bancorp Inc. is headquartered in Dallas, Texas. “
A number of other equities research analysts have also recently commented on the company. Piper Jaffray Companies upgraded Triumph Bancorp from a neutral rating to an overweight rating and set a $32.00 target price on the stock in a research note on Friday, July 21st. FBR & Co cut Triumph Bancorp from an outperform rating to a market perform rating and set a $29.00 target price on the stock. in a research note on Friday, July 21st. BidaskClub cut Triumph Bancorp from a strong-buy rating to a buy rating in a research note on Friday, October 13th. Stephens reiterated an overweight rating and set a $34.00 target price on shares of Triumph Bancorp in a research note on Monday, August 21st. Finally, Wells Fargo & Company set a $35.00 price objective on Triumph Bancorp and gave the company a buy rating in a research note on Friday, October 20th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Triumph Bancorp currently has a consensus rating of Buy and an average price target of $34.14.
Shares of Triumph Bancorp (NASDAQ:TBK) traded up 2.52% during trading on Wednesday, hitting $32.55. 103,700 shares of the stock traded hands. Triumph Bancorp has a 1-year low of $18.36 and a 1-year high of $33.00. The stock has a 50 day moving average price of $30.95 and a 200-day moving average price of $26.42. The stock has a market cap of $586.84 million, a price-to-earnings ratio of 19.55 and a beta of 0.83.
Triumph Bancorp (NASDAQ:TBK) last released its earnings results on Wednesday, October 18th. The financial services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $43.68 million for the quarter, compared to analysts’ expectations of $44.66 million. Triumph Bancorp had a return on equity of 8.40% and a net margin of 17.59%. Equities analysts forecast that Triumph Bancorp will post $1.98 EPS for the current year.
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In related news, Director Charles A. Anderson purchased 2,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average cost of $27.66 per share, for a total transaction of $55,320.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 12.35% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in TBK. Kennedy Capital Management Inc. bought a new stake in shares of Triumph Bancorp during the second quarter valued at about $3,102,000. Dimensional Fund Advisors LP increased its position in shares of Triumph Bancorp by 85.9% during the second quarter. Dimensional Fund Advisors LP now owns 210,010 shares of the financial services provider’s stock valued at $5,156,000 after buying an additional 97,051 shares during the period. Banc Funds Co. LLC increased its position in shares of Triumph Bancorp by 46.7% during the second quarter. Banc Funds Co. LLC now owns 298,300 shares of the financial services provider’s stock valued at $7,323,000 after buying an additional 95,000 shares during the period. LSV Asset Management bought a new stake in shares of Triumph Bancorp during the second quarter valued at about $2,267,000. Finally, Thrivent Financial For Lutherans increased its position in shares of Triumph Bancorp by 346.6% during the second quarter. Thrivent Financial For Lutherans now owns 88,510 shares of the financial services provider’s stock valued at $2,173,000 after buying an additional 68,690 shares during the period. Hedge funds and other institutional investors own 46.32% of the company’s stock.
About Triumph Bancorp
Triumph Bancorp, Inc is a financial holding company. Through its bank subsidiary, TBK Bank, SSB (TBK Bank), the Company offers traditional banking services, as well as commercial finance products. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate. The Factoring segment includes the operations of Triumph Business Capital with revenue derived from factoring services.
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