Triumph Bancorp Inc (TBK) Stock Rating Upgraded by TheStreet
Triumph Bancorp Inc (NASDAQ:TBK) was upgraded by investment analysts at TheStreet from a “c” rating to a “b” rating in a report issued on Wednesday.
Several other equities analysts have also recently weighed in on TBK. DA Davidson initiated coverage on Triumph Bancorp in a research report on Tuesday, March 21st. They set a “buy” rating and a $31.00 price objective for the company. FBR & Co reissued an “outperform” rating and set a $30.00 price objective on shares of Triumph Bancorp in a research report on Friday, March 24th. Zacks Investment Research cut Triumph Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Finally, Piper Jaffray Companies cut Triumph Bancorp from an “overweight” rating to a “neutral” rating and set a $24.00 price objective for the company. in a research report on Monday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Triumph Bancorp has a consensus rating of “Hold” and an average price target of $26.50.
Shares of Triumph Bancorp (NASDAQ:TBK) traded up 1.43% during mid-day trading on Wednesday, reaching $21.35. The company’s stock had a trading volume of 40,860 shares. The company has a 50 day moving average of $23.13 and a 200-day moving average of $24.28. Triumph Bancorp has a 12 month low of $15.18 and a 12 month high of $27.95. The firm has a market capitalization of $383.55 million, a P/E ratio of 15.33 and a beta of 0.80.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Wednesday, April 19th. The financial services provider reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.36 by $0.34. Triumph Bancorp had a return on equity of 8.14% and a net margin of 14.23%. The business had revenue of $59.10 million for the quarter, compared to analyst estimates of $39.48 million. Equities research analysts forecast that Triumph Bancorp will post $1.60 EPS for the current year.
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In other news, Director Charles A. Anderson purchased 4,500 shares of the business’s stock in a transaction on Friday, April 28th. The stock was purchased at an average price of $22.46 per share, with a total value of $101,070.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael P. Rafferty purchased 1,500 shares of the business’s stock in a transaction on Tuesday, April 25th. The stock was purchased at an average cost of $21.98 per share, with a total value of $32,970.00. Following the acquisition, the director now owns 22,187 shares in the company, valued at $487,670.26. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 11,651 shares of company stock valued at $258,011. Insiders own 9.84% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. RMB Capital Management LLC purchased a new position in Triumph Bancorp during the third quarter valued at approximately $34,801,000. Wellington Management Group LLP boosted its position in Triumph Bancorp by 889.6% in the first quarter. Wellington Management Group LLP now owns 1,071,766 shares of the financial services provider’s stock valued at $27,652,000 after buying an additional 963,465 shares during the period. Mendon Capital Advisors Corp boosted its position in Triumph Bancorp by 0.4% in the first quarter. Mendon Capital Advisors Corp now owns 927,560 shares of the financial services provider’s stock valued at $23,931,000 after buying an additional 3,280 shares during the period. Basswood Capital Management L.L.C. boosted its position in Triumph Bancorp by 4.4% in the fourth quarter. Basswood Capital Management L.L.C. now owns 912,517 shares of the financial services provider’s stock valued at $23,862,000 after buying an additional 38,833 shares during the period. Finally, Vanguard Group Inc. boosted its position in Triumph Bancorp by 5.3% in the first quarter. Vanguard Group Inc. now owns 649,763 shares of the financial services provider’s stock valued at $16,764,000 after buying an additional 32,511 shares during the period. 44.67% of the stock is owned by hedge funds and other institutional investors.
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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