Triumph Bancorp’s (TBK) Buy Rating Reaffirmed at DA Davidson
DA Davidson reissued their buy rating on shares of Triumph Bancorp, Inc. (NASDAQ:TBK) in a research note released on Friday morning. They currently have a $36.00 target price on the financial services provider’s stock.
Other analysts have also recently issued research reports about the company. FBR & Co cut Triumph Bancorp from an outperform rating to a market perform rating and set a $29.00 price objective for the company. in a research report on Friday, July 21st. Piper Jaffray Companies raised Triumph Bancorp from a neutral rating to an overweight rating and set a $32.00 price target on the stock in a research note on Friday, July 21st. Zacks Investment Research raised Triumph Bancorp from a hold rating to a buy rating and set a $28.00 price target on the stock in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $33.00 price target on shares of Triumph Bancorp in a research note on Wednesday, August 9th. Finally, BidaskClub lowered Triumph Bancorp from a strong-buy rating to a buy rating in a research note on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of $34.14.
Shares of Triumph Bancorp (TBK) traded up 2.39% on Friday, hitting $32.10. 95,041 shares of the stock traded hands. The company has a market cap of $578.73 million, a PE ratio of 19.28 and a beta of 0.83. The firm’s 50 day moving average is $30.72 and its 200-day moving average is $26.28. Triumph Bancorp has a 12 month low of $18.36 and a 12 month high of $32.60.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings data on Wednesday, October 18th. The financial services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $43.68 million during the quarter, compared to analysts’ expectations of $44.66 million. Triumph Bancorp had a return on equity of 9.03% and a net margin of 17.59%. Equities analysts predict that Triumph Bancorp will post $1.92 earnings per share for the current year.
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In other Triumph Bancorp news, Director Charles A. Anderson purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $27.66 per share, with a total value of $55,320.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.35% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its stake in shares of Triumph Bancorp by 889.6% in the 1st quarter. Wellington Management Group LLP now owns 1,071,766 shares of the financial services provider’s stock valued at $27,652,000 after purchasing an additional 963,465 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Triumph Bancorp by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 669,265 shares of the financial services provider’s stock valued at $16,431,000 after purchasing an additional 19,502 shares in the last quarter. Banc Funds Co. LLC lifted its stake 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. State Street Corp lifted its stake 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. Finally, Dimensional Fund Advisors LP lifted its stake 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. 46.10% of the stock is currently owned by institutional investors and hedge funds.
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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