Triumph Bancorp, Inc. (TBK) Stock Rating Upgraded by BidaskClub
Triumph Bancorp, Inc. (NASDAQ:TBK) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.
Several other brokerages also recently commented on TBK. Zacks Investment Research raised Triumph Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price objective on the stock in a research report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $33.00 target price on shares of Triumph Bancorp in a research report on Wednesday, August 9th. Stephens reiterated an “overweight” rating and set a $34.00 target price on shares of Triumph Bancorp in a research report on Monday, August 21st. Piper Jaffray Companies upgraded Triumph Bancorp from a “neutral” rating to an “overweight” rating and set a $32.00 target price for the company in a research report on Friday, July 21st. Finally, FBR & Co lowered shares of Triumph Bancorp from an “outperform” rating to a “market perform” rating and set a $29.00 target price for the company. in a research note on Friday, July 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Triumph Bancorp has a consensus rating of “Buy” and an average price target of $31.57.
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 32.25 on Friday. The company’s 50-day moving average is $28.18 and its 200-day moving average is $25.30. Triumph Bancorp has a 12-month low of $18.36 and a 12-month high of $32.60. The company has a market capitalization of $581.44 million, a price-to-earnings ratio of 19.37 and a beta of 0.79.
Triumph Bancorp (NASDAQ:TBK) last issued its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.19. Triumph Bancorp had a return on equity of 7.85% and a net margin of 15.93%. The firm had revenue of $43.76 million for the quarter, compared to the consensus estimate of $39.38 million. Analysts predict that Triumph Bancorp will post $1.92 EPS for the current year.
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In other news, Director Charles A. Anderson acquired 2,000 shares of Triumph Bancorp stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $27.66 per share, for a total transaction of $55,320.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.35% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Mesirow Financial Investment Management Inc. purchased a new position in Triumph Bancorp during the 2nd quarter valued at about $495,000. The Manufacturers Life Insurance Company raised its holdings in shares of Triumph Bancorp by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,336 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 428 shares in the last quarter. State Street Corp raised its holdings in shares of Triumph Bancorp by 7.4% in the 2nd quarter. State Street Corp now owns 262,930 shares of the financial services provider’s stock valued at $6,452,000 after purchasing an additional 18,159 shares in the last quarter. Banc Funds Co. LLC raised its holdings in shares of Triumph Bancorp by 46.7% in the 2nd quarter. Banc Funds Co. LLC now owns 298,300 shares of the financial services provider’s stock valued at $7,323,000 after purchasing an additional 95,000 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Triumph Bancorp by 85.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 210,010 shares of the financial services provider’s stock valued at $5,156,000 after purchasing an additional 97,051 shares in the last quarter. Institutional investors own 46.10% of the company’s stock.
Triumph Bancorp Company Profile
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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