Royce & Associates LP raised its stake in Triumph Bancorp, Inc. (NASDAQ:TBK) by 194.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 588,601 shares of the financial services provider’s stock after purchasing an additional 388,455 shares during the quarter. Royce & Associates LP’s holdings in Triumph Bancorp were worth $28,577,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Great West Life Assurance Co. Can lifted its holdings in shares of Triumph Bancorp by 18,576.1% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,102,694 shares of the financial services provider’s stock worth $1,017,000 after acquiring an additional 5,075,372 shares during the last quarter. BlackRock Inc. lifted its stake in Triumph Bancorp by 6.9% during the fourth quarter. BlackRock Inc. now owns 3,555,430 shares of the financial services provider’s stock worth $172,617,000 after purchasing an additional 228,067 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Triumph Bancorp by 6.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,072,929 shares of the financial services provider’s stock worth $33,411,000 after purchasing an additional 67,592 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Triumph Bancorp by 0.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 149,530 shares of the financial services provider’s stock valued at $4,657,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Maltese Capital Management LLC bought a new position in shares of Triumph Bancorp during the 3rd quarter valued at about $1,713,000. Hedge funds and other institutional investors own 74.97% of the company’s stock.
TBK has been the subject of several research reports. B. Riley upped their target price on Triumph Bancorp from $42.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, January 7th. Raymond James upped their price objective on shares of Triumph Bancorp from $70.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, February 18th. TheStreet upgraded shares of Triumph Bancorp from a “c+” rating to a “b-” rating in a research report on Monday, October 26th. Keefe, Bruyette & Woods downgraded shares of Triumph Bancorp from an “outperform” rating to a “market perform” rating and set a $45.00 price target for the company. in a research note on Wednesday, November 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Triumph Bancorp from a “hold” rating to a “strong-buy” rating and set a $73.00 price objective on the stock in a research note on Thursday, January 28th. Five research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $46.56.
In related news, EVP Todd Ritterbusch acquired 9,000 shares of Triumph Bancorp stock in a transaction on Wednesday, January 27th. The shares were acquired at an average cost of $27.25 per share, with a total value of $245,250.00. Following the transaction, the executive vice president now owns 20,000 shares in the company, valued at $545,000. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO R Bryce Fowler sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $63.14, for a total transaction of $252,560.00. The disclosure for this sale can be found here. Insiders have sold a total of 37,576 shares of company stock valued at $2,350,627 in the last ninety days. 9.53% of the stock is currently owned by corporate insiders.
Shares of TBK opened at $76.04 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of 39.40 and a beta of 1.17. Triumph Bancorp, Inc. has a twelve month low of $19.03 and a twelve month high of $77.32. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.41. The firm has a fifty day simple moving average of $61.96 and a two-hundred day simple moving average of $44.91.
Triumph Bancorp (NASDAQ:TBK) last issued its quarterly earnings data on Wednesday, January 20th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $0.82 by $0.43. The firm had revenue of $105.98 million during the quarter, compared to the consensus estimate of $84.57 million. Triumph Bancorp had a net margin of 13.50% and a return on equity of 6.74%. Sell-side analysts expect that Triumph Bancorp, Inc. will post 1.69 EPS for the current fiscal year.
Triumph Bancorp Company Profile
Triumph Bancorp, Inc operates as a financial holding company for TBK Bank, SSB that provides banking and commercial finance products and services to retail customers and small-to-mid-sized businesses in the United States. The company operates through Banking, Factoring, and Corporate segments. It offers depository products, including checking, savings, and money market accounts, as well as certificates of deposit; and commercial and industrial loans, loans to purchase capital equipment, and business loans for working capital and operational purposes.
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