Peregrine Capital Management LLC Acquires Shares of 443,432 Triumph Bancorp Inc (TBK)
Peregrine Capital Management LLC bought a new position in shares of Triumph Bancorp Inc (NASDAQ:TBK) in the third quarter, HoldingsChannel.com reports. The institutional investor bought 443,432 shares of the financial services provider’s stock, valued at approximately $16,939,000.
Several other institutional investors have also recently made changes to their positions in the stock. Louisiana State Employees Retirement System acquired a new stake in shares of Triumph Bancorp during the 3rd quarter worth about $409,000. State of Alaska Department of Revenue acquired a new stake in shares of Triumph Bancorp during the 3rd quarter worth about $289,000. United Services Automobile Association increased its position in shares of Triumph Bancorp by 31.7% during the 2nd quarter. United Services Automobile Association now owns 7,224 shares of the financial services provider’s stock worth $294,000 after purchasing an additional 1,740 shares in the last quarter. Northern Trust Corp increased its position in shares of Triumph Bancorp by 45.0% during the 2nd quarter. Northern Trust Corp now owns 285,499 shares of the financial services provider’s stock worth $11,634,000 after purchasing an additional 88,619 shares in the last quarter. Finally, Moody Aldrich Partners LLC increased its position in shares of Triumph Bancorp by 114.3% during the 2nd quarter. Moody Aldrich Partners LLC now owns 136,690 shares of the financial services provider’s stock worth $5,570,000 after purchasing an additional 72,913 shares in the last quarter. Institutional investors and hedge funds own 74.83% of the company’s stock.
A number of equities research analysts recently issued reports on TBK shares. Zacks Investment Research upgraded shares of Triumph Bancorp from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research report on Tuesday, July 3rd. B. Riley raised their price objective on shares of Triumph Bancorp from $46.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, September 21st. DA Davidson raised their price objective on shares of Triumph Bancorp from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Thursday, September 20th. Stephens restated a “buy” rating and issued a $46.00 price objective on shares of Triumph Bancorp in a research report on Thursday, July 19th. Finally, ValuEngine cut shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $44.56.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Wednesday, October 17th. The financial services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. The firm had revenue of $67.80 million during the quarter, compared to analysts’ expectations of $67.43 million. Triumph Bancorp had a net margin of 15.39% and a return on equity of 10.89%. The company’s quarterly revenue was up 55.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.47 EPS. As a group, equities research analysts forecast that Triumph Bancorp Inc will post 2.23 EPS for the current year.
In other Triumph Bancorp news, EVP Daniel J. Karas sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, August 8th. The shares were sold at an average price of $41.96, for a total value of $125,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 9.40% of the company’s stock.
Triumph Bancorp 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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