Triumph Bancorp, Inc. (NASDAQ:TBK) Stock Rating Lowered by Zacks Investment Research
Triumph Bancorp, Inc. (NASDAQ:TBK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
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. “
Several other equities research analysts have also recently commented on TBK. TheStreet raised Triumph Bancorp from a “c” rating to a “b” rating in a research note on Wednesday, May 17th. Wells Fargo & Company raised 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. Piper Jaffray Companies cut Triumph Bancorp from an “overweight” rating to a “neutral” rating and set a $24.00 target price for the company. in a research report on Monday, April 24th. DA Davidson started coverage on Triumph Bancorp in a research report on Tuesday, March 21st. They set a “buy” rating and a $31.00 target price for the company. Finally, FBR & Co reaffirmed an “outperform” rating and set a $30.00 target price on shares of Triumph Bancorp in a research report on Friday, March 24th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $27.80.
Triumph Bancorp (TBK) opened at 24.95 on Friday. The company has a 50-day moving average of $23.03 and a 200 day moving average of $24.83. The stock has a market cap of $448.23 million, a price-to-earnings ratio of 17.91 and a beta of 0.72. Triumph Bancorp has a 12-month low of $15.51 and a 12-month high of $27.95.
Triumph Bancorp (NASDAQ:TBK) last announced its quarterly earnings results on Wednesday, April 19th. The financial services provider reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.34. The firm had revenue of $59.10 million during the quarter, compared to the consensus estimate of $39.48 million. Triumph Bancorp had a net margin of 14.60% and a return on equity of 6.26%. Equities analysts anticipate that Triumph Bancorp will post $1.66 earnings per share for the current year.
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In other Triumph Bancorp news, Director Michael P. Rafferty purchased 1,500 shares of the business’s stock in a transaction dated Tuesday, April 25th. The stock was bought at an average cost of $21.98 per share, for a total transaction of $32,970.00. Following the completion of the acquisition, the director now directly owns 22,187 shares in the company, valued at $487,670.26. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Charles A. Anderson purchased 4,500 shares of the business’s stock in a transaction dated Friday, April 28th. The shares were acquired at an average price of $22.46 per share, with a total value of $101,070.00. The disclosure for this purchase can be found here. Insiders have acquired 11,651 shares of company stock valued at $258,011 in the last ninety days. Company insiders own 12.35% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of TBK. Bank of America Corp DE raised its position in shares of Triumph Bancorp by 17.6% in the first quarter. Bank of America Corp DE now owns 4,273 shares of the financial services provider’s stock worth $111,000 after buying an additional 641 shares during the last quarter. Nine Chapters Capital Management LLC purchased a new position in shares of Triumph Bancorp during the first quarter worth approximately $201,000. California Public Employees Retirement System purchased a new position in shares of Triumph Bancorp during the first quarter worth approximately $219,000. Parametric Portfolio Associates LLC raised its position in shares of Triumph Bancorp by 16.5% in the first quarter. Parametric Portfolio Associates LLC now owns 9,341 shares of the financial services provider’s stock worth $241,000 after buying an additional 1,326 shares during the last quarter. Finally, American International Group Inc. raised its position in shares of Triumph Bancorp by 7.0% in the first quarter. American International Group Inc. now owns 9,519 shares of the financial services provider’s stock worth $246,000 after buying an additional 624 shares during the last quarter. Institutional investors own 51.51% of the company’s stock.
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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