Triumph Bancorp Inc. (TBK) Upgraded by Zacks Investment Research to “Buy”
Triumph Bancorp Inc. (NASDAQ:TBK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Saturday. The firm currently has a $22.00 target price on the stock. Zacks Investment Research’s price target would suggest 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. “
Shares of Triumph Bancorp (NASDAQ:TBK) opened at 19.82 on Friday. Triumph Bancorp has a 12-month low of $12.63 and a 12-month high of $20.08. The stock’s 50 day moving average price is $19.10 and its 200-day moving average price is $17.02. The firm has a market capitalization of $358.88 million, a P/E ratio of 18.49 and a beta of 0.50.
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Triumph Bancorp (NASDAQ:TBK) last issued its earnings results on Tuesday, July 26th. The company reported $0.25 earnings per share for the quarter, hitting the Zacks’ 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 expect that Triumph Bancorp will post $1.22 EPS for the current year.
In other news, Director Michael P. Rafferty acquired 1,593 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was purchased at an average price of $17.15 per share, with a total value of $27,319.95. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 9.84% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. First Trust Advisors LP raised its stake in shares of Triumph Bancorp by 0.6% in the second quarter. First Trust Advisors LP now owns 25,831 shares of the company’s stock worth $413,000 after buying an additional 157 shares during the period. Bridgeway Capital Management Inc. raised its stake in shares of Triumph Bancorp by 0.6% in the second quarter. Bridgeway Capital Management Inc. now owns 31,800 shares of the company’s stock worth $509,000 after buying an additional 200 shares during the period. American International Group Inc. raised its stake 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 during the period. California State Teachers Retirement System raised its stake in shares of Triumph Bancorp by 3.1% in the second quarter. California State Teachers Retirement System now owns 32,438 shares of the company’s stock worth $519,000 after buying an additional 967 shares during the period. Finally, Strs Ohio raised its stake in shares of 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 owned by 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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