Triumph Bancorp, Inc. (TBK) Given Consensus Recommendation of “Buy” by Analysts
Triumph Bancorp, Inc. (NASDAQ:TBK) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $34.00.
TBK has been the subject of several recent analyst reports. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $33.00 price target on shares of Triumph Bancorp in a research note on Wednesday, August 9th. BidaskClub cut Triumph Bancorp from a “strong-buy” rating to a “buy” rating in a research note on Friday, October 13th. Zacks Investment Research upgraded Triumph Bancorp from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Thursday, September 28th. Wells Fargo & Company set a $35.00 price target on Triumph Bancorp and gave the stock a “buy” rating in a research note on Friday, October 20th. Finally, FBR & Co cut Triumph Bancorp from an “outperform” rating to a “market perform” rating and set a $29.00 price target for the company. in a research note on Friday, July 21st.
In other news, Director Charles A. Anderson acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was bought at an average price of $27.66 per share, with a total value of $55,320.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 12.35% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings 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 acquiring an additional 641 shares during the period. Citigroup Inc. grew its holdings in shares of Triumph Bancorp by 312.0% in the second quarter. Citigroup Inc. now owns 5,220 shares of the financial services provider’s stock worth $129,000 after acquiring an additional 3,953 shares during the period. California Public Employees Retirement System bought a new stake in shares of Triumph Bancorp in the first quarter worth $219,000. Principal Financial Group Inc. bought a new stake in shares of Triumph Bancorp in the second quarter worth $218,000. Finally, Parametric Portfolio Associates LLC grew its holdings 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 acquiring an additional 1,326 shares during the period. 46.32% of the stock is owned by institutional investors.
Triumph Bancorp (NASDAQ TBK) opened at 31.85 on Wednesday. Triumph Bancorp has a 52 week low of $18.36 and a 52 week high of $33.00. The firm has a 50-day moving average price of $30.86 and a 200-day moving average price of $26.38. The company has a market cap of $574.22 million, a P/E ratio of 19.13 and a beta of 0.83.
Triumph Bancorp (NASDAQ:TBK) last posted its quarterly earnings results on Wednesday, October 18th. The financial services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Triumph Bancorp had a return on equity of 8.40% and a net margin of 17.59%. The firm had revenue of $43.68 million during the quarter, compared to analysts’ expectations of $44.66 million. Equities research analysts anticipate that Triumph Bancorp will post $1.94 EPS for the current fiscal year.
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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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