Triumph Bancorp, Inc. (NASDAQ:TBK) Expected to Announce Quarterly Sales of $39.38 Million
Wall Street analysts expect Triumph Bancorp, Inc. (NASDAQ:TBK) to report $39.38 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Triumph Bancorp’s earnings, with the lowest sales estimate coming in at $37.83 million and the highest estimate coming in at $40.20 million. Triumph Bancorp posted sales of $29.58 million in the same quarter last year, which would indicate a positive year over year growth rate of 33.1%. The company is scheduled to issue its next quarterly earnings report on Tuesday, July 25th.
According to Zacks, analysts expect that Triumph Bancorp will report full-year sales of $39.38 million for the current year, with estimates ranging from $165.70 million to $183.40 million. For the next fiscal year, analysts anticipate that the business will post sales of $184.72 million per share, with estimates ranging from $178.66 million to $191.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Triumph Bancorp.
Triumph Bancorp (NASDAQ:TBK) last announced its earnings results on Wednesday, April 19th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.34. Triumph Bancorp had a return on equity of 6.26% and a net margin of 14.60%. The firm had revenue of $59.10 million for the quarter, compared to analyst estimates of $39.48 million.
Several research analysts have weighed in on the stock. FBR & Co reiterated an “outperform” rating and issued a $30.00 price objective on shares of Triumph Bancorp in a research note on Friday, March 24th. Zacks Investment Research raised shares of Triumph Bancorp from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 21st. TheStreet raised shares of Triumph Bancorp from a “c” rating to a “b” rating in a research report on Wednesday, May 17th. Wells Fargo & Company raised shares of Triumph Bancorp from a “market perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research report on Friday, May 26th. Finally, DA Davidson started coverage on shares of Triumph Bancorp in a research report on Tuesday, March 21st. They issued a “buy” rating and a $31.00 target price for the company. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $27.80.
In other Triumph Bancorp news, Director Charles A. Anderson bought 4,500 shares of the firm’s stock in a transaction on Friday, April 28th. The stock was bought at an average cost of $22.46 per share, with a total value of $101,070.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael P. Rafferty bought 1,500 shares of the firm’s stock in a transaction on Tuesday, April 25th. The stock was acquired at an average cost of $21.98 per share, with a total value of $32,970.00. Following the completion of the transaction, the director now directly owns 22,187 shares of the company’s stock, valued at $487,670.26. The disclosure for this purchase can be found here. Insiders acquired 11,651 shares of company stock valued at $258,011 over the last three months. Insiders own 12.35% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in 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 valued at $27,652,000 after buying an additional 963,465 shares in the last quarter. RMB Capital Management LLC increased its stake 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 in the last quarter. Dimensional Fund Advisors LP increased its stake in Triumph Bancorp by 220.9% in the first quarter. Dimensional Fund Advisors LP now owns 112,959 shares of the financial services provider’s stock valued at $2,914,000 after buying an additional 77,761 shares in the last quarter. Renaissance Technologies LLC increased its stake in Triumph Bancorp by 127.6% in the fourth quarter. Renaissance Technologies LLC now owns 105,400 shares of the financial services provider’s stock valued at $2,756,000 after buying an additional 59,100 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. purchased a new stake in Triumph Bancorp during the first quarter valued at about $994,000. 51.51% of the stock is owned by institutional investors.
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Shares of Triumph Bancorp (TBK) traded up 1.40% during mid-day trading on Friday, reaching $25.30. 21,211 shares of the company were exchanged. The firm has a market capitalization of $454.51 million, a PE ratio of 18.16 and a beta of 0.72. The company’s 50 day moving average price is $23.03 and its 200 day moving average price is $24.83. Triumph Bancorp has a 12 month low of $15.51 and a 12 month high of $27.95.
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.
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