Triumph Bancorp Inc. (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday. The brokerage currently has a $22.00 price target on the stock. Zacks Investment Research’s target price suggests a potential upside of 11.00% from the stock’s previous close.

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 firm’s 50-day moving average price is $19.10 and its 200 day moving average price is $17.02. Triumph Bancorp has a 52-week low of $12.63 and a 52-week high of $20.08. The firm has a market cap of $358.88 million, a PE ratio of 18.49 and a beta of 0.50.

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Triumph Bancorp (NASDAQ:TBK) last issued 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 net margin of 15.82% and a return on equity of 6.52%. On average, equities analysts anticipate that Triumph Bancorp will post $1.22 earnings per share for the current year.

In other Triumph Bancorp news, Director Michael P. Rafferty bought 1,593 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $17.15 per share, with a total value of $27,319.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 9.84% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of TBK. American International Group Inc. boosted its position in shares of Triumph Bancorp by 2.3% in the second quarter. American International Group Inc. now owns 8,906 shares of the company’s stock worth $142,000 after buying an additional 204 shares in the last quarter. Bank of Montreal Can acquired a new stake in Triumph Bancorp during the second quarter worth $144,000. Spark Investment Management LLC acquired a new stake in Triumph Bancorp during the second quarter worth $190,000. Parametric Portfolio Associates LLC boosted its stake in Triumph Bancorp by 36.5% in the second quarter. Parametric Portfolio Associates LLC now owns 13,823 shares of the company’s stock worth $221,000 after buying an additional 3,697 shares during the period. Finally, Strs Ohio boosted its stake in Triumph Bancorp by 9.5% in the second quarter. Strs Ohio now owns 19,700 shares of the company’s stock worth $315,000 after buying an additional 1,715 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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