Triumph Bancorp (TBK) Upgraded to Strong-Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Triumph Bancorp (NASDAQ:TBK) from a hold rating to a strong-buy rating in a report released on Saturday morning. Zacks Investment Research currently has $41.00 price target on the financial services provider’s stock.
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. “
TBK has been the subject of several other research reports. DA Davidson reaffirmed a buy rating and set a $36.00 price objective on shares of Triumph Bancorp in a report on Friday, October 20th. FBR & Co reaffirmed a hold rating and set a $32.00 price objective on shares of Triumph Bancorp in a report on Monday, October 23rd. BidaskClub lowered shares of Triumph Bancorp from a hold rating to a sell rating in a report on Tuesday, November 7th. Piper Jaffray Companies lowered shares of Triumph Bancorp from an overweight rating to a neutral rating and set a $34.00 price target for the company. in a report on Friday, October 6th. Finally, Keefe, Bruyette & Woods reissued a buy rating and issued a $37.00 price target on shares of Triumph Bancorp in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $35.86.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The company had revenue of $43.68 million during the quarter, compared to analyst estimates of $44.66 million. Triumph Bancorp had a net margin of 17.59% and a return on equity of 8.40%. research analysts expect that Triumph Bancorp will post 1.47 earnings per share for the current year.
In related news, Director Maribess L. Miller purchased 5,504 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was acquired at an average price of $29.77 per share, with a total value of $163,854.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders purchased 6,504 shares of company stock valued at $195,094. 12.35% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Nationwide Fund Advisors boosted its stake in Triumph Bancorp by 32.0% in the third quarter. Nationwide Fund Advisors now owns 35,649 shares of the financial services provider’s stock valued at $1,150,000 after acquiring an additional 8,642 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in shares of Triumph Bancorp during the second quarter worth $495,000. First Quadrant L P CA bought a new position in shares of Triumph Bancorp during the third quarter worth $461,000. Vanguard Group Inc. boosted its position in shares of Triumph Bancorp by 3.0% during the second quarter. Vanguard Group Inc. now owns 669,265 shares of the financial services provider’s stock worth $16,431,000 after purchasing an additional 19,502 shares in the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of Triumph Bancorp during the third quarter worth $1,213,000. 61.32% of the stock is currently owned by hedge funds and other institutional investors.
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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