Stephens restated their overweight rating on shares of Triumph Bancorp, Inc. (NASDAQ:TBK) in a research note issued to investors on Monday morning, Marketbeat reports. Stephens currently has a $34.00 price objective on the financial services provider’s stock.
A number of other research firms have also commented on TBK. Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $33.00 price target on shares of Triumph Bancorp in a research report on Wednesday, August 9th. Piper Jaffray Companies lowered Triumph Bancorp from an overweight rating to a neutral rating and set a $24.00 price target on the stock. in a research report on Monday, April 24th. FBR & Co lowered Triumph Bancorp from an outperform rating to a market perform rating and set a $29.00 price target on the stock. in a research report on Friday, July 21st. Zacks Investment Research lowered Triumph Bancorp from a buy rating to a hold rating in a research report on Friday, July 7th. Finally, Wells Fargo & Company raised Triumph Bancorp from a market perform rating to an outperform rating and set a $27.00 price target on the stock in a research report on Friday, May 26th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. Triumph Bancorp currently has a consensus rating of Buy and a consensus price target of $30.57.
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 27.70 on Monday. Triumph Bancorp has a 52-week low of $18.00 and a 52-week high of $29.25. The company has a 50 day moving average of $27.14 and a 200 day moving average of $25.15. The firm has a market capitalization of $499.40 million, a PE ratio of 16.64 and a beta of 0.78.
Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings results on Wednesday, July 19th. The financial services provider reported $0.51 EPS for the quarter, topping the Zacks’ consensus estimate of $0.32 by $0.19. The company had revenue of $43.76 million for the quarter, compared to analyst estimates of $39.38 million. Triumph Bancorp had a return on equity of 7.85% and a net margin of 15.93%. On average, analysts anticipate that Triumph Bancorp will post $1.93 earnings per share for the current fiscal year.
In other news, Director Charles A. Anderson bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price 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 accessible through this hyperlink. 12.35% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of 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 worth $27,652,000 after buying an additional 963,465 shares in the last quarter. Mendon Capital Advisors Corp raised 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. Vanguard Group Inc. raised its position in Triumph Bancorp by 3.0% in the second quarter. Vanguard Group Inc. now owns 669,265 shares of the financial services provider’s stock valued at $16,431,000 after buying an additional 19,502 shares during the period. RMB Capital Management LLC raised its position in Triumph Bancorp by 24.7% in the first quarter. RMB Capital Management LLC now owns 506,437 shares of the financial services provider’s stock valued at $13,066,000 after buying an additional 100,233 shares during the period. Finally, Banc Funds Co. LLC raised its position in Triumph Bancorp by 46.7% in the second quarter. Banc Funds Co. LLC now owns 298,300 shares of the financial services provider’s stock valued at $7,323,000 after buying an additional 95,000 shares during the period. 45.28% 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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