BidaskClub Downgrades Triumph Bancorp, Inc. (TBK) to Hold
Triumph Bancorp, Inc. (NASDAQ:TBK) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.
A number of other research analysts have also recently issued reports on the stock. FBR & Co reissued a “neutral” rating and set a $32.00 price target (up from $29.00) on shares of Triumph Bancorp in a research report on Tuesday, October 10th. Piper Jaffray Companies cut shares of Triumph Bancorp from an “overweight” rating to a “neutral” rating and set a $34.00 price target for the company. in a research report on Friday, October 6th. Zacks Investment Research raised shares of Triumph Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Thursday, September 28th. Stephens reissued an “overweight” rating and set a $34.00 price target on shares of Triumph Bancorp in a research report on Monday, August 21st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $33.00 price target on shares of Triumph Bancorp in a research report on Wednesday, August 9th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Triumph Bancorp has an average rating of “Buy” and a consensus target price of $34.14.
Shares of Triumph Bancorp (NASDAQ TBK) traded up 2.39% during trading on Thursday, hitting $32.10. 95,041 shares of the stock traded hands. The firm has a market cap of $578.73 million, a price-to-earnings ratio of 19.28 and a beta of 0.83. The company has a 50 day moving average price of $30.72 and a 200 day moving average price of $26.28. Triumph Bancorp has a 12 month low of $18.36 and a 12 month high of $32.60.
Triumph Bancorp (NASDAQ:TBK) last announced its earnings results on Wednesday, October 18th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $43.68 million for the quarter, compared to analyst estimates of $44.66 million. Triumph Bancorp had a net margin of 17.59% and a return on equity of 9.03%. Analysts anticipate that Triumph Bancorp will post $1.92 earnings per share for the current fiscal year.
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In other Triumph Bancorp news, Director Charles A. Anderson purchased 2,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average cost of $27.66 per share, with a total value of $55,320.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 12.35% of the company’s stock.
A number of institutional investors have recently modified their holdings of TBK. Wellington Management Group LLP raised its holdings 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 worth $27,652,000 after buying an additional 963,465 shares during the last quarter. Kennedy Capital Management Inc. purchased a new position in Triumph Bancorp in the second quarter worth about $3,102,000. Dimensional Fund Advisors LP raised its holdings in Triumph Bancorp by 85.9% in the second quarter. Dimensional Fund Advisors LP now owns 210,010 shares of the financial services provider’s stock worth $5,156,000 after buying an additional 97,051 shares during the last quarter. Banc Funds Co. LLC raised its holdings in Triumph Bancorp by 46.7% in the second quarter. Banc Funds Co. LLC now owns 298,300 shares of the financial services provider’s stock worth $7,323,000 after buying an additional 95,000 shares during the last quarter. Finally, LSV Asset Management purchased a new position in Triumph Bancorp in the second quarter worth about $2,267,000. 46.10% of the stock is owned by institutional investors and hedge funds.
About Triumph Bancorp
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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