Zacks Investment Research upgraded shares of Triumph Bancorp Inc. (NASDAQ:TBK) from a hold rating to a buy rating in a research report report published on Saturday morning. Zacks Investment Research currently has $22.00 price objective on the 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. “
Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. The stock has a market capitalization of $358.88 million, a price-to-earnings ratio of 18.49 and a beta of 0.50. The stock’s 50 day moving average is $19.10 and its 200-day moving average is $17.02. Triumph Bancorp has a 12 month low of $12.63 and a 12 month high of $20.08.
Triumph Bancorp (NASDAQ:TBK) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. Triumph Bancorp had a return on equity of 6.52% and a net margin of 15.82%. On average, equities research analysts expect that Triumph Bancorp will post $1.22 earnings per share for the current year.
In related news, Director Michael P. Rafferty purchased 1,593 shares of Triumph Bancorp stock in a transaction that occurred on Wednesday, August 3rd. The shares were purchased at an average cost of $17.15 per share, with a total value of $27,319.95. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 9.84% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in TBK. BlackRock Fund Advisors raised its position in Triumph Bancorp by 4.7% in the second quarter. BlackRock Fund Advisors now owns 401,294 shares of the company’s stock valued at $6,421,000 after buying an additional 18,025 shares during the period. BlackRock Investment Management LLC raised its position in Triumph Bancorp by 8.9% in the second quarter. BlackRock Investment Management LLC now owns 64,148 shares of the company’s stock valued at $1,026,000 after buying an additional 5,220 shares during the period. Vanguard Group Inc. raised its position in Triumph Bancorp by 3.7% in the second quarter. Vanguard Group Inc. now owns 514,072 shares of the company’s stock valued at $8,225,000 after buying an additional 18,535 shares during the period. Brown Advisory Inc. raised its position in Triumph Bancorp by 4.8% in the second quarter. Brown Advisory Inc. now owns 458,497 shares of the company’s stock valued at $7,335,000 after buying an additional 21,008 shares during the period. Finally, First Trust Advisors LP raised its position in Triumph Bancorp by 0.6% in the second quarter. First Trust Advisors LP now owns 25,831 shares of the company’s stock valued at $413,000 after buying an additional 157 shares during the period. 39.53% 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 banking services, as well as commercial finance products to businesses that require specialized financial solutions. The Company operates through four segments: Banking, Factoring, Asset Management and Corporate.
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