Triumph Bancorp, Inc. (NASDAQ:TBK) Upgraded at Piper Jaffray Companies

Triumph Bancorp, Inc. (NASDAQ:TBK) was upgraded by equities researchers at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a report released on Friday, The Fly reports.

TBK has been the topic of several other reports. Zacks Investment Research lowered shares of Triumph Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 29th. FBR & Co restated an “outperform” rating and set a $30.00 price target on shares of Triumph Bancorp in a research report on Friday, March 24th. Wells Fargo & Company upgraded shares of Triumph Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research report on Friday, May 26th. Finally, TheStreet upgraded shares of Triumph Bancorp from a “c” rating to a “b” rating in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $27.80.

Shares of Triumph Bancorp (TBK) opened at 27.10 on Friday. The firm’s 50-day moving average price is $24.42 and its 200-day moving average price is $24.88. Triumph Bancorp has a 12-month low of $16.85 and a 12-month high of $28.40. The company has a market capitalization of $486.85 million, a PE ratio of 19.45 and a beta of 0.72.

Triumph Bancorp (NASDAQ:TBK) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.19. Triumph Bancorp had a net margin of 15.93% and a return on equity of 7.99%. The business had revenue of $43.76 million for the quarter, compared to analyst estimates of $39.38 million. On average, analysts expect that Triumph Bancorp will post $1.66 EPS for the current fiscal year.

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In other Triumph Bancorp news, Director Michael P. Rafferty acquired 1,500 shares of the business’s stock in a transaction on Tuesday, April 25th. The stock was bought at an average price of $21.98 per share, for a total transaction of $32,970.00. Following the acquisition, the director now owns 22,187 shares in the company, valued at $487,670.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Charles A. Anderson acquired 4,500 shares of the business’s stock in a transaction on Friday, April 28th. The stock was acquired at an average price of $22.46 per share, with a total value of $101,070.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 11,651 shares of company stock valued at $258,011. Insiders own 12.35% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in TBK. Bank of America Corp DE increased its stake in Triumph Bancorp by 17.6% in the first quarter. Bank of America Corp DE now owns 4,273 shares of the financial services provider’s stock worth $111,000 after buying an additional 641 shares during the last quarter. Nine Chapters Capital Management LLC acquired a new stake in Triumph Bancorp during the first quarter worth approximately $201,000. California Public Employees Retirement System acquired a new stake in Triumph Bancorp during the first quarter worth approximately $219,000. Parametric Portfolio Associates LLC increased its stake in Triumph Bancorp by 16.5% in the first quarter. Parametric Portfolio Associates LLC now owns 9,341 shares of the financial services provider’s stock worth $241,000 after buying an additional 1,326 shares during the last quarter. Finally, American International Group Inc. increased its stake in Triumph Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 9,519 shares of the financial services provider’s stock worth $246,000 after buying an additional 624 shares during the last quarter. Institutional investors own 51.51% 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.